{"id":14744,"date":"2025-03-10T18:07:03","date_gmt":"2025-03-10T18:07:03","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=14744"},"modified":"2025-03-10T18:07:04","modified_gmt":"2025-03-10T18:07:04","slug":"nigeria-savannah-energy-completes-acquisition-of-sipec","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-savannah-energy-completes-acquisition-of-sipec\/","title":{"rendered":"NIGERIA: Savannah Energy Completes Acquisition of SIPEC"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Savannah Energy announces the completion of the acquisition of 100% of Sinopec International Petroleum Exploration and Production Company Nigeria Limited SIPEC, following a signing ceremony held in Lagos earlier this morning. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Savannah the acquisition consolidates its interest in the Stubb Creek oil and gas field, Nigeria, increasing our group Reserves and Resources base by by approximately 30% from 151 MMboe to 197 MMboe. This includes 227 Bscf of 2C gross gas Resources, securing significant additional long-term feedstock gas available for sale to our Accugas customers<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The completion of the SIPEC Acquisition creates material potential production upside for Savannah as the company now intends to commence an expansion programme, anticipated to increase Stubb Creek Field gross oil production by c. 75% from an average of 2.7 Kbopd in 2024 to approximately 4.7 Kbopd. The acquisition is highly accretive to group net asset value, adding a management estimated US$194m of value on pre-debt basis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Savannah Energy announces the completion of the acquisition of 100% of Sinopec International Petroleum Exploration and Production Company Nigeria Limited SIPEC, following a signing ceremony held in Lagos earlier this &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-savannah-energy-completes-acquisition-of-sipec\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13570,"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":[1],"tags":[1749,8039,11844,11843],"class_list":["post-14744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-nigeria","tag-savannah-energy","tag-sipec","tag-stubb-creek-oil-and-gas-field","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Savannah-Energy.png?fit=458%2C358&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3PO","jetpack-related-posts":[{"id":15045,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-niger-savannah-energy-provides-q1-trading-update-terming-2025-an-exciting-year\/","url_meta":{"origin":14744,"position":0},"title":"NIGERIA\/NIGER: Savannah Energy  Provides Q1 Trading Update terming 2025 an &#8220;Exciting Year&#8221;","author":"","date":"May 20, 2025","format":false,"excerpt":"Nigeria Existing BusinessAverage gross daily production was 23.6 Kboepd for Q1 2025, broadly in line with the prior year period (Q1 2024: 24.1 Kboepd). On 10 March 2025, we announced the completion of the SIPEC Acquisition. Since its completion, we have commenced work on the planned production expansion with an\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2022\/02\/Savannah-Energy.png?fit=458%2C358&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11224,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-updated-cpr-report-increases-savanna-energys-2p-reserves-by-27\/","url_meta":{"origin":14744,"position":1},"title":"NIGERIA: Updated CPR Report Increases Savanna Energy&#8217;s 2P Reserves by 27%","author":"","date":"November 23, 2021","format":false,"excerpt":"An updated Competent Person's Report CPR was compiled by CGG Services (UK) Ltd covering Savanna Energy's assets in Nigeria has placed them at 108.6 MMboe 2P Reserves up from 85.5MMboe in 2019 with with additional 99.7 MMboein\u00a0 2C Contingent Resources up from 98.0MMboe in 2019. The significant increase is attributed\u2026","rel":"","context":"In &quot;Countries&quot;","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\/11\/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\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Savannah-Energy-Rig.png?fit=1009%2C437&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13718,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-savannah-energy-signs-new-natural-gas-sales-and-purchase-agreement-with-amalgamated-oil-company\/","url_meta":{"origin":14744,"position":2},"title":"NIGERIA: Savannah Energy Signs New Natural Gas Sales and Purchase Agreement with Amalgamated Oil Company","author":"","date":"June 2, 2023","format":false,"excerpt":"Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, is pleased to announce that the Company's 80% indirectly owned subsidiary, Accugas Limited, has entered into a Natural Gas Sales and Purchase Agreement with Amalgamated Oil Company Nigeria Limited (AMOCON) for gas produced in\u2026","rel":"","context":"In &quot;Countries&quot;","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\/06\/Savannah-Energy.png?fit=458%2C358&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"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":14744,"position":3},"title":"NIGERIA\/NIGER: Savannah Energy Provides Operational Update for H1 &#038; 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 &quot;Countries&quot;","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":13001,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-sudan-klg-advises-savannah-energy-on-1-25b-acquisition-of-petronas-oil-gas-business\/","url_meta":{"origin":14744,"position":4},"title":"SOUTH SUDAN: KLG Advises Savannah Energy on $1.25B Acquisition of Petronas Oil &#038; Gas Business","author":"","date":"December 19, 2022","format":false,"excerpt":"Kirk Lovegrove & Company has advised Savannah Energy PLC on the acquisition of PETRONAS\u2019s entire oil and gas business in South Sudan for a total cash consideration of up to US$1.25 billion. Completion of the Transaction would result in Savannah acquiring PETRONAS\u2019s interests in three Joint Operating Companies which operate\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2022\/12\/DPOC-South-Sudan-image.webp?fit=800%2C632&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/DPOC-South-Sudan-image.webp?fit=800%2C632&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/DPOC-South-Sudan-image.webp?fit=800%2C632&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/DPOC-South-Sudan-image.webp?fit=800%2C632&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12590,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-new-gas-sales-agreement-signed-with-notore-chemical-industries\/","url_meta":{"origin":14744,"position":5},"title":"NIGERIA: New Gas Sales Agreement Signed with Notore Chemical Industries","author":"","date":"August 23, 2022","format":false,"excerpt":"Savannah Energy has announced that the Company's 80% indirectly owned subsidiary, Accugas Limited, has entered into a new gas sales agreement (GSA) with Notore Chemical Industries PLC. Accugas will supply Notore with up to 10 MMscfpd of gas to augment its current supplies. The contracted supply is on an interruptible\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2022\/02\/Savannah-Energy.png?fit=458%2C358&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\/14744","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=14744"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14744\/revisions"}],"predecessor-version":[{"id":14745,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/14744\/revisions\/14745"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13570"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=14744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=14744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=14744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}