Savannah Energy eyes expansion
The Africa-focused independent is looking for additional projects, says CEO Andrew Knott
AIM-listed independent Savannah Energy is the latest firm eyeing upstream expansion opportunities as the oil majors divest African assets. The company is engaged in “exclusive and advanced” negotiations to purchase all of ExxonMobil’s upstream and midstream assets in Chad and Cameroon, CEO Andrew Knott tells Petroleum Economist. The assets include a 40pc operated stake in the Doba oil project and 40pc of the Chad-Cameroon pipeline. Knott says the talks are ongoing, so he was unable to give an update, but the proposed acquisition would initially equate to roughly 35,000bl/d and his firm is seeking to “add value to assets”. Pipeline capacity and total flows are actually higher, at around 129,
Also in this section
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust