A leading energy player in Africa
- Current operations
Nigeria
In Nigeria, Savannah has a significant controlling interest in a large-scale integrated gas production and distribution business which is currently supplying gas to approximately 20% of Nigeria’s thermal power generation capacity.
Power Division
Savannah’s Power Division currently has up to 696 MW of renewable energy projects in motion. We are involved across the entire project life cycle, taking projects from greenfield development through to long-term ownership and operation.
Cameroon
In Cameroon, we are progressing the up to 95 MW Bini a Warak hybrid hydroelectric and solar project. Savannah also owns a 41.06%1 financial interest in the Cameroon Export Transportation System which comprises a 903km export pipeline and the Kome Kribi 1 floating storage and offloading facility, offshore Cameroon.
Niger
In Niger, we have licence interests covering 50% of the country’s main petroleum basin, with plans in place to deliver first oil production and revenues following the commencement of installation of an early production system. We are also progressing up to 450 MW of solar and wind projects.
Reserves & Resources
We have net 2P Reserves and 2C Resources of 196.5 MMboe equating to a 25.5 year 2P Reserves and 2C Resources life.
1. In April 2023, Savannah's wholly owned subsidiary, Savannah Midstream Investment Limited (“SMIL”), signed a Share Purchase Agreement with the national oil company of Cameroon, Société Nationale Des Hydrocarbures (“SNH”) for the sale of 10% of the issued share capital in COTCo. Completion of the transfer of the shares from SMIL to SNH will result in SMIL's shareholding in COTCo reducing from 41.06% to 31.06%. Completion can only occur upon satisfaction of certain conditions precedent related to amendments to the Articles of Association of COTCo. During the second half of 2023, in an attempt to take control of and deprive SMIL of its equity ownership, governance and operational rights in COTCo, the Republic of Chad, SHT Overseas Petroleum (Cameroon) Limited (“SHT”), COTCo and certain other shareholders of COTCo took a number of actions in breach of the Articles of Association of COTCo, the Services Agreement between COTCo and SMIL, and Cameroonian law. SMIL has commenced arbitral and other legal proceedings against COTCo, the Republic of Chad, SHT Overseas Petroleum (Cameroon) Limited and the other shareholders of COTCo to seek full compensation for the loss that it has and may suffer as a result of such actions.
