{"id":12973,"date":"2022-12-14T20:22:38","date_gmt":"2022-12-14T20:22:38","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12973"},"modified":"2022-12-14T20:22:38","modified_gmt":"2022-12-14T20:22:38","slug":"savannah-energy-terminates-spa-for-petronas-chad-and-cameroon-portfolio","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/savannah-energy-terminates-spa-for-petronas-chad-and-cameroon-portfolio\/","title":{"rendered":"Savannah Energy Terminates SPA for PETRONAS\u2019 Chad and Cameroon portfolio"},"content":{"rendered":"

Savannah has announced the completion of the proposed acquisition of PETRONAS\u2019
\nupstream and midstream asset portfolio in Chad and Cameroon that remained subject to the satisfaction of certain conditions precedent which have not yet been satisfied with both companies having mutually agreed to terminate the SPA with immediate effect<\/p>\n

In Chad the SPA included the transfer of PCCEPI\u2019s shares and interests in PETRONAS Carigali Chad (EP) Inc., DOBA Pipeline Investment Inc. (a shareholder in both Tchad Oil Transportation Company and Cameroon Oil Transportation Company), and PETRONAS Chad Marketing Inc, to Savannah Energy Chad Limited.<\/p>\n

Meanwhile, Savannah Energy says Savannah\u2019s acquisition of ExxonMobil\u2019s interest in the
\nDoba fields and the TOTCO Pipeline completed on 9 December 2022 was conducted in full conformity with the requirements of the governing documents and the applicable law<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Savannah has announced the completion of the proposed acquisition of PETRONAS\u2019 upstream and midstream asset portfolio in Chad and Cameroon that remained subject to the satisfaction of certain conditions precedent … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":12974,"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":[7447,7442,11,7444],"tags":[387,10906,434,10904,860,2024,8039,10905],"class_list":["post-12973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-countries","category-top-news","category-west-africa","tag-cameroon","tag-cameroon-oil-transportation-company","tag-chad","tag-doba-pipeline","tag-exxonmobil","tag-petronas","tag-savannah-energy","tag-tchad-oil-transportation-company","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/chad-cameroon-project-overview-map.png?fit=940%2C529&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3nf","jetpack-related-posts":[{"id":11379,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-chad-savannah-energy-signs-spa-with-exxon-mobil-corporation-and-petronas\/","url_meta":{"origin":12973,"position":0},"title":"CAMEROON\/CHAD: Savannah Energy Signs SPA with Exxon Mobil Corporation and PETRONAS","author":"","date":"December 14, 2021","format":false,"excerpt":"Savannah Energy PLC, has\u00a0announce that it has signed a Share Purchase Agreement (SPA) with Exxon Mobil Corporation, ExxonMobil International Holdings, Inc. and Esso Exploration Holdings, Inc. (Exxon) and has separately signed an SPA with PETRONAS (E&P) Overseas Ventures SDN. BHD. (PETRONAS (E&P) Overseas Ventures\") relating to the purchase of each\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13569,"url":"https:\/\/www.oilnewskenya.com\/index.php\/savannah-energy-provides-q1-2023-financial-and-operational-update\/","url_meta":{"origin":12973,"position":1},"title":"Savannah Energy Provides Q1 2023 Financial and Operational Update","author":"","date":"April 14, 2023","format":false,"excerpt":"Q1 2023 Unaudited Financial Highlights Q1 2023 Total Revenues2 of US$147.6m comprising Q1 2023 Total Revenues2 from Nigerian operations of US$71.0m (up 29% on Nigerian operations Q1 2022 Total Revenues2 of US$55.0m)plus Chad upstream revenues of US$76.6m; and Group cash balance of US$217.3m3 and net debt of US$412.2m4.Q1 2023 Operational\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13589,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-savannah-energy-signs-spa-with-societe-nationale-des-hydrocarbures\/","url_meta":{"origin":12973,"position":2},"title":"CAMEROON: Savannah Energy Signs SPA with Soci\u00e9t\u00e9 Nationale Des Hydrocarbures","author":"","date":"April 20, 2023","format":false,"excerpt":"Savannah Energy has announced that its wholly owned subsidiary, Savannah Midstream Investment Limited (SMIL), has signed a Share Purchase Agreement (SPA) with the national oil company of Cameroon, Soci\u00e9t\u00e9 Nationale Des Hydrocarbures (SNH), relating to the sale by SMIL and purchase by SNH of 10% of the issued share capital\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\/2023\/04\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/chad-cameroon-pipeline-project.jpg?fit=708%2C898&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1226,"url":"https:\/\/www.oilnewskenya.com\/index.php\/chevron-announces-sale-of-interests-in-chad-and-cameroon\/","url_meta":{"origin":12973,"position":3},"title":"Chevron Announces Sale of Interests in Chad and Cameroon","author":"Samuel Kamau Mbote","date":"June 16, 2014","format":false,"excerpt":"Chevron Corporation has\u00a0announced that its subsidiary, Chevron Global Energy Inc., has sold its 25 percent non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3 billion. The sale closed June 13. \"This sale demonstrates our focus\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\/06\/chevron-logo.png?fit=1000%2C1118&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/chevron-logo.png?fit=1000%2C1118&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/chevron-logo.png?fit=1000%2C1118&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/chevron-logo.png?fit=1000%2C1118&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13506,"url":"https:\/\/www.oilnewskenya.com\/index.php\/chad-savannah-energy-heads-to-icc-after-presidential-decree-nationalizes-assets\/","url_meta":{"origin":12973,"position":4},"title":"CHAD: Savannah Energy Heads to ICC after Presidential Decree Nationalizes Assets","author":"","date":"March 24, 2023","format":false,"excerpt":"British\u00a0independent\u00a0energy\u00a0company Savannah\u00a0Energy says it intends to pursue its legal rights followingthe Decree issued by the President of the Republic of Chad dated 23\u00a0March 2023,\u00a0nationalising Savannah Chad Inc\u2019s ('SCI') (formerly Esso Exploration and Production Chad\u00a0Inc ('EEPCI')) upstream production assets in Chad.\u00a0 This follows the completion of the acquisition of EEPCI on\u00a09\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Chad-Doba-Oil-Project.png?fit=1200%2C744&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Chad-Doba-Oil-Project.png?fit=1200%2C744&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Chad-Doba-Oil-Project.png?fit=1200%2C744&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Chad-Doba-Oil-Project.png?fit=1200%2C744&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Chad-Doba-Oil-Project.png?fit=1200%2C744&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12948,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-sudan-petronas-to-acquire-savannah-energys-entire-oil-and-gas-business-for-up-to-us1-25-billion\/","url_meta":{"origin":12973,"position":5},"title":"SOUTH SUDAN: PETRONAS to acquire Savannah Energy’s Entire Oil and Gas Business for up to US$1.25 billion","author":"","date":"December 13, 2022","format":false,"excerpt":"Savannah Energy PLC has announced that it has entered into a Share Purchase Agreement (SPA) with PETRONAS International Corporation Limited to acquire PETRONAS'\u00a0entire oil and gas business in South Sudan through the acquisition of Petronas Carigali Nile Limited, for a total cash consideration of up to US$1.25 billion, subject to\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\/09\/South-Sudan-Toors-oil-Field.jpg?fit=919%2C617&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/South-Sudan-Toors-oil-Field.jpg?fit=919%2C617&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/South-Sudan-Toors-oil-Field.jpg?fit=919%2C617&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/South-Sudan-Toors-oil-Field.jpg?fit=919%2C617&ssl=1&resize=700%2C400 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