Savannah Energy, a UK-based independent energy company focused on Africa, acquires ExxonMobil's entire portfolio of upstream and midstream assets in Chad and Cameroon
The announcement comes after Savannah Energy and ExxonMobil signed a share purchase agreement in 2021, which saw the UK listed company acquire a 40% stake in the Doba oil project in southern Chad as well as a 40% indirect stake in the Chad-Cameroon, export transport systemwhich includes a 1,081 km pipeline and theKome Kribi 1 floating production, storage and offloading facility (FPSO), offshore Cameroon .
ExxonMobil's interest in Chad and Cameroon, previously estimated at $360 million, contains fields producing 33,700 b/d, with the Doba oil project alone - a prospect that includes seven producing oil fields - showing a combined production of 28,000 b/d.
Approving this decision, NJ Ayuk, Executive Chairman of the African Energy ChamberBringing independent energy companies to Africa will allow the continent to focus on bringing energy to its people by harnessing its natural resources while demonstrating the lucrative opportunities in countries that have otherwise been ignored until now. During Africa Energy Week this year, we saw discussions moving towards increased support for new independents that can exploit the assets of the super majors in a sustainable way.
Entièrement engagée à apporter des projets fiables et d’un bon rapport qualité-prix en Afrique, Savannah Energy a été sans égal dans son engagement envers l’énergie africaine, avec le vaste portefeuille de projets d’énergie renouvelable de la société – ainsi que son portefeuille en amont et intermédiaire – contribuant à son ‘ L’initiative « Projects that Matter », qui est active au Cameroun, au Tchad, au Niger et au Nigeria.