SAVANNAH ENERGY

Savannah Energy PLC is an Africa-focused oil and gas exploration and production company with assets in Nigeria, Chad, Cameroon, and Niger. The company is targeting oil and natural gas, with 2P hydrocarbon reserves and 2C continent resources estimated at 164.9 million barrels of oil equivalent (MMboe) as of December 31, 2022 with a reported total revenue of US$290.4m for 2022.

Savannah Energy is focused on early-stage development of its exploration and production assets as well as midstream and renewable energy projects. In Nigeria, the company operates the Uquo and Stubb Creek oil and gas fields as well as the Accugas gas processing and transportation business. In Niger, Savannah has opened five new oil discoveries and identified 146 exploration targets over its 13,655 square kilometer R1234 license area.

The company also has a renewable energy division focused on wind, solar, and hydroelectric projects in Niger and Cameroon. In 2022, Savannah announced plans to build and operate Niger’s first wind farm, with an expected capacity of up to 250 MW. Overall, the company aims to have over 1 GW of renewable energy projects in motion by the end of 2023.

Most recently, Savannah Energy announced an agreement to acquire the oil and gas assets of Petronas in South Sudan for $1.25 billion. The assets include interests in 3 blocks and 64 producing fields with average gross production of 153,000 bpd in 2021. The transaction is expected to close in the third quarter of 2023, pending government and shareholder approval. The deal would significantly expand Savannah’s current production and resource base.