CHAD: Savannah Energy Heads to ICC after Presidential Decree Nationalizes Assets

British independent energy company Savannah Energy says it intends to pursue its legal rights followingthe Decree issued by the President of the Republic of Chad dated 23 March 2023, nationalising Savannah Chad Inc’s (‘SCI’) (formerly Esso Exploration and Production Chad Inc (‘EEPCI’)) upstream production assets in Chad

This follows the completion of the acquisition of EEPCI on 9 December 2022 by Savannah Energy with the company saying the actions of the Republic of Chad are in direct breach of the Conventions to which SCI and the Republic of Chad are, amongst others, party.

“This Presidential Decree has been issued by the Republic of Chad, notwithstanding the fact that under SCI’s operatorship the historic production decline was immediately reversed, with daily production averaging 29,349 barrels per day since 9 December 2022, an increase of c.9% as against the equivalent period prior to Savannah taking control of SCI. Savannah had also initiated plans to significantly increase production further through an active investment programme.”

Savannah says it remains committed to delivering Projects that Matter in Africa and expects to provide further updates in due course.

Savannah owns a 40% participating interest in the Doba Oil Project which has seven producing fields – Komé, Miandoum, Bolobo, Moundouli, Maikeri, Nya and Timbre. The fields were brought onstream during the 2003 – 2009 period. Production is from approximately 300 wells, with expected 2022 gross production of 28.0 Kbopd.

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