Chadian energy ministry opposes Savannah deal
Savannah faces setback in Chad, progress in South Sudan
The independent has run into difficulties over its expansion in Chad even as it launches its largest acquisition to date in South Sudan
AIM-listed Savannah Energy’s plans to expand in Chad have hit the buffers, with the government saying it did not give its approval to the deal. Savannah was seeking to buy the entire portfolios of both ExxonMobil and Malaysian NOC Petronas in Chad and Cameroon. These assets comprise ExxonMobil and Petronas’ respective stakes of 40pc and 35pc in Chad’s Doba oil project and around 40pc and 30pc respectively of the pipeline network that takes Chadian crude to the Cameroonian port of Kribi. Savannah recently confirmed the conclusion of its deal with ExxonMobil, which includes assuming the role of operator at Doba. But Chad’s Ministry of Petroleum and Energy swiftly issued a statement “strongly c
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