Savannah strikes it lucky in the Sahara
UK independent can develop its Agadem field on the back of a major funding boost and pipeline access to world markets
British independent Savannah Petroleum is preparing to complete the Seven Energy gas deal in Nigeria—a move that will equip it with the financial clout to develop its Agadem field oil assets in neighbouring Niger. The news comes just weeks after Chinese major CNPC signed a cross-border pipeline deal with Benin and Niger that opens up Savannah’s prospects of exporting to the world market. Since 2014, Savannah’s five exploration wells have produced five discoveries in Agadem, a remote region on the fringes of the Sahara. Funding constraints have so far delayed investment to bring these into production—but this obstacle should soon be lifted by the somewhat-delayed Seven transaction. The London
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
