{"id":11437,"date":"2021-12-21T06:17:51","date_gmt":"2021-12-21T06:17:51","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11437"},"modified":"2021-12-21T06:17:51","modified_gmt":"2021-12-21T06:17:51","slug":"niger-cabinet-approves-the-amalgamation-of-r1234-psc","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/niger-cabinet-approves-the-amalgamation-of-r1234-psc\/","title":{"rendered":"NIGER: Cabinet Approves the Amalgamation of R1234 PSC"},"content":{"rendered":"

Previously Savannah Energy announced it had reached an agreement in principle with the Niger Ministry of Petroleum to formally renounce the R1\/R2 PSC and the R3\/R4 PSC and to combine the R1\/R2 PSC Area with the R3\/R4 PSC Area into one amalgamated R1234 PSC. Following this agreement, the amalgamated R1234 PSC was approved by the Council of Ministers in Niger on 16 December 2021 and is now subject to the payment of a signature bonus by the Company.<\/p>\n

The Company anticipates that the R1234 PSC will become effective in Q1 2022 and will reset the Company’s licence validity to up to 10 years for the exploration phase, comprising an initial term of four years, with the option to extend this term by two further terms of two years each. In addition, one of these three terms can be extended by the Company for a further two years.<\/p>\n

The Proposed Acquisitions<\/span><\/p>\n

Further to its announcements of 13 December 2021, Savannah Energy now intends to publish an AIM Admission Document in respect of the Exxon Acquisition and the Petronas Acquisition on or around 22 December 2021, following which point the Company will seek restoration to trading on AIM of its ordinary shares.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Previously Savannah Energy announced it had reached an agreement in principle with the Niger Ministry of Petroleum to formally renounce the R1\/R2 PSC and the R3\/R4 PSC and to combine … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[858,1598,8038,2024,2092,9932,8039],"class_list":["post-11437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-exxon-mobil","tag-ministry-of-petroleum","tag-niger","tag-petronas","tag-psc","tag-r1234","tag-savannah-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Savannah-Petroleum-Niger-Zomo-1bb3f.jpg?fit=723%2C579&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2Yt","jetpack-related-posts":[{"id":8739,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-niger-savannah-energy-provides-operational-update-for-h1-outlook-for-fy-2020\/","url_meta":{"origin":11437,"position":0},"title":"NIGERIA\/NIGER: Savannah Energy Provides Operational Update for H1 & Outlook for FY 2020","author":"","date":"August 3, 2020","format":false,"excerpt":"H1 2020 Operational Update Nigeria \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0H1 2020 cash collections from the Nigerian Assets of US$82.1m compared to US$55.3m in H1 2019; \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Average gross daily production, of which 89% was gas, increased 18% during H1 2020 to 21.3 Kboepd (H1 2019: 18.1 Kboepd). This includes a 22% increase in production from\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Savannah-Energy.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560,"url":"https:\/\/www.oilnewskenya.com\/index.php\/apache-departs-from-psc-with-pancontinental-in-block-8\/","url_meta":{"origin":11437,"position":1},"title":"Apache departs from PSC with Pancontinental in Kenya’s Block L8","author":"Samuel Kamau Mbote","date":"February 21, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Apache has opted out from the production sharing agreement (PSC) with Pancontinental Oil and Gas of Kenya's offshore Block L8 saying it will not participate in any further discussions in the new PSC after the former agreement expired. Apache had owned 50 percent in the agreement, Origin owned\u2026","rel":"","context":"In "Oil Politics"","block_context":{"text":"Oil Politics","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/oil-politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/pancontinental-completes-nanaa-seismic-survey-offshore-kenya.jpg?fit=708%2C479&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/pancontinental-completes-nanaa-seismic-survey-offshore-kenya.jpg?fit=708%2C479&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/pancontinental-completes-nanaa-seismic-survey-offshore-kenya.jpg?fit=708%2C479&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/pancontinental-completes-nanaa-seismic-survey-offshore-kenya.jpg?fit=708%2C479&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11210,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-yet-to-get-approval-following-thali-psc-farm-out\/","url_meta":{"origin":11437,"position":2},"title":"CAMEROON: Tower Resources Yet To Get Approval Following Thali PSC Farm-out","author":"","date":"November 22, 2021","format":false,"excerpt":"60 days since the\u00a0Minister of Mines, Industry and Technological Development was formally requested for approval of a transaction of the type its farm-out to Beluga Energy Limited of a 49% non-operating working interest in its Thali Production Sharing Contract (PSC) in Cameroon there is yet to be any communication according\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11472,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-apa-corporation-announces-ratification-of-modernized-production-sharing-contract\/","url_meta":{"origin":11437,"position":3},"title":"EGYPT: APA Corporation Announces Ratification of Modernized Production Sharing Contract","author":"","date":"December 30, 2021","format":false,"excerpt":"APA Corporation has announced the signing, by authority of Egyptian President H.E. Abdel Fattah El Sisi, of the previously announced agreement to modernize and consolidate the company\u2019s current Production Sharing Contracts (PSCs) with Egypt\u2019s Ministry of Petroleum and Mineral Resources (MOP) and the Egyptian General Petroleum Corporation (EGPC). The effective\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Apache-Egypt.png?fit=766%2C495&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Apache-Egypt.png?fit=766%2C495&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Apache-Egypt.png?fit=766%2C495&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Apache-Egypt.png?fit=766%2C495&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":754,"url":"https:\/\/www.oilnewskenya.com\/index.php\/comoros-ratifies-discover-exploration-production-sharing-agreement\/","url_meta":{"origin":11437,"position":4},"title":"Comoros ratifies Discover exploration production sharing agreement","author":"Samuel Kamau Mbote","date":"March 20, 2014","format":false,"excerpt":"Discover, the privately owned, geology-led, oil and gas exploration company specialized in deep water petroleum systems, has announce the ratification of its Production Sharing Contract covering offshore blocks 35, 36 & 37 by the National Assembly of the Comoros . Parliamentary approval follows on from the signing of the PSC\u2026","rel":"","context":"In "Elsewhere in Africa"","block_context":{"text":"Elsewhere in Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/elsewhere-in-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/comoros.jpg?fit=746%2C516&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/comoros.jpg?fit=746%2C516&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/comoros.jpg?fit=746%2C516&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/comoros.jpg?fit=746%2C516&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":981,"url":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-signs-second-farm-out-with-sterling-energy-in-somaliland\/","url_meta":{"origin":11437,"position":5},"title":"Jacka Resources signs second farm-out with Sterling Energy in Somaliland","author":"Samuel Kamau Mbote","date":"May 6, 2014","format":false,"excerpt":"Jacka Resources\u00a0has announced that Jacka Resources Somaliland Limited has signed a second Farmout Agreement with\u00a0Sterling Energy (East Africa) Limited for the\u00a0Odewayne Block Production Sharing Contract, onshore Somaliland, East Africa. Sterling will acquire JRSL\u2019s 15% participating interest in the PSC for a total cash consideration of US$12 million and approval for\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11437"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11437\/revisions"}],"predecessor-version":[{"id":11439,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11437\/revisions\/11439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11438"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}