Doba’s production has been in decline for years
ExxonMobil considers Chad divestment
Savannah is the latest independent to see opportunity in mature African assets, as another major seeks an out
AIM-listed independent Savannah Energy is in "advanced exclusive discussions" with ExxonMobil about acquiring the US major's entire upstream and midstream portfolio in Chad and Cameroon. The portfolio includes a 40pc stake in the Doba oil project and an effective 40pc share in the Chad-Cameroon oil pipeline. The deal will be classed as a reverse takeover if it goes through, so Savannah has requested that AIM suspends trading in its shares until it is able to release more details of the proposals, or the talks end. The other stakeholders in the Doba consortium are Malaysia's Petronas (35pc) and Chad's state oil company SHT (25pc). Output has slowed recently, with Doba producing an average
Also in this section
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
