{"id":13506,"date":"2023-03-24T09:33:03","date_gmt":"2023-03-24T09:33:03","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13506"},"modified":"2023-03-24T09:33:03","modified_gmt":"2023-03-24T09:33:03","slug":"chad-savannah-energy-heads-to-icc-after-presidential-decree-nationalizes-assets","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/chad-savannah-energy-heads-to-icc-after-presidential-decree-nationalizes-assets\/","title":{"rendered":"CHAD: Savannah Energy Heads to ICC after Presidential Decree Nationalizes Assets"},"content":{"rendered":"\n


<\/em>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<\/em>.\u00a0<\/p>\n\n\n\n

This follows the completion of the acquisition of EEPCI on\u00a09 December 2022\u00a0by Savannah Energy with the company saying the actions of the Republic of Chad are in direct breach of\u00a0the Conventions to which SCI and the Republic of Chad are, amongst others, party.<\/p>\n\n\n\n

“This Presidential Decree has been issued by the Republic of Chad, notwithstanding the fact that under\u00a0SCI\u2019s operatorship the historic production decline was immediately reversed, with daily production\u00a0averaging 29,349 barrels per day since 9 December 2022, an increase of c.9% as against the equivalent\u00a0period prior to Savannah taking control of SCI. Savannah had also initiated plans to significantly increase\u00a0production further through an active investment programme.”<\/p>\n\n\n\n

Savannah says it remains committed to delivering\u00a0Projects that Matter in Africa and expects to provide\u00a0further updates in due course.<\/p>\n\n\n\n

Savannah owns a 40% participating interest in the Doba Oil Project which has seven producing fields \u2013 Kom\u00e9, Miandoum, Bolobo, Moundouli, Maikeri, Nya and Timbre. The fields were brought onstream during the 2003 \u2013 2009 period. <\/mark>Production is from approximately 300 wells, with expected 2022 gross production of 28.0 Kbopd.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13507,"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":false,"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],"tags":[11127,434,11124,11123,11128,11129,11125,11126,8039,11131],"class_list":["post-13506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-africa","category-countries","category-top-news","tag-bolobo","tag-chad","tag-eepci","tag-esso-exploration-and-production","tag-kome","tag-maikeri","tag-miandoum","tag-moundouli","tag-savannah-energy","tag-timbre","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/03\/Chad-Doba-Oil-Project.png?fit=4344%2C2694&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3vQ","jetpack-related-posts":[{"id":13569,"url":"https:\/\/www.oilnewskenya.com\/index.php\/savannah-energy-provides-q1-2023-financial-and-operational-update\/","url_meta":{"origin":13506,"position":0},"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":11379,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-chad-savannah-energy-signs-spa-with-exxon-mobil-corporation-and-petronas\/","url_meta":{"origin":13506,"position":1},"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":12973,"url":"https:\/\/www.oilnewskenya.com\/index.php\/savannah-energy-terminates-spa-for-petronas-chad-and-cameroon-portfolio\/","url_meta":{"origin":13506,"position":2},"title":"Savannah Energy Terminates SPA for PETRONAS\u2019 Chad and Cameroon portfolio","author":"","date":"December 14, 2022","format":false,"excerpt":"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 which have not yet been satisfied with both companies having mutually agreed to terminate the SPA with immediate effect In\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\/2022\/12\/chad-cameroon-project-overview-map.png?fit=940%2C529&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/chad-cameroon-project-overview-map.png?fit=940%2C529&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/chad-cameroon-project-overview-map.png?fit=940%2C529&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/chad-cameroon-project-overview-map.png?fit=940%2C529&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":13506,"position":3},"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":13506,"position":4},"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":3054,"url":"https:\/\/www.oilnewskenya.com\/index.php\/simba-energy-enters-agreement-essel-group-middle-east-invest-3-african-countries\/","url_meta":{"origin":13506,"position":5},"title":"Simba Energy Enters Into Agreement With Essel Group Middle East To Invest In 3 African Countries","author":"","date":"June 8, 2015","format":false,"excerpt":"Simba Energy has announced it has executed an Agreement with Essel Group Middle East, of Dubai, UAE, a subsidiary of Essel Group India, wherein Essel Group will earn a 60% participating interest in Simba's existing Production Sharing Contracts (PSC's) in Kenya, Chad and Guinea. Simba will be carried on all\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\/01\/thumnail_simba_energy.jpg?fit=300%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13506","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=13506"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13506\/revisions"}],"predecessor-version":[{"id":13508,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13506\/revisions\/13508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13507"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}