19 May 2025
Opening up new horizons in Niger in both hydrocarbons and renewable energy
Our assets
Hydrocarbon licence interests
Savannah’s hydrocarbon licence interests cover approximately 13,655 km2, equating to 50% of Niger’s main petroleum basin, the Agadem Rift Basin (“ARB”) in South East Niger.
35 MMstb
of Gross 2C Resources for our R3 East discoveries.
90 MMstb
of additional Gross Unrisked Prospective Resources (Best case) from five prospects and leads within tie-in distance to the planned R3 East facilities.
100% exploration success rate
achieved to date with five discoveries from five wells drilled.
146
potential exploration targets.
Our progress in the ARB
Savannah has delivered a highly successful exploration campaign in Niger with five discoveries from five wells in the R3 area. There are an additional five prospects and leads within tie-in distance to the planned R3 East facilities with three Yogou Cretaceous prospects mapped on 3D seismic, at depths below our main discoveries (i.e. Amdigh, Eridal and Bushiya), and two leads in the Central part of R3. Savannah has identified 146 potential exploration targets in total across our licence area to consider drilling in the future. CGG Service (UK) Ltd. has stated that the estimated average geological chance of success for the Alternances exploration prospects and leads, such as those drilled to date by Savannah in the R3 East area, is high, at more than 75%.
We are continuing to seek to progress the R3 East oil development. The Niger-Benin oil export pipeline, now fully operational, provides a potential route to international markets for crude oil produced from the R1234 contract area of our subsidiary. We have sought to optimise the development plan for the R3 East Area and we now forecast a peak potential production of approximately 10,000 bopd (vs 5,000 bopd in the previous plan). Management estimates of the forecast PV10 value of the R3 East development project has also increased from US$150 million1 to US$210 million.2
Read more about the geology
of the ARB in our
latest Annual Report and Accounts
1. Niger Competent Persons Report (2021) compiled by CGG Services (UK) Limited.
2. Management estimate as at 31 December 2024 based on R3 East development with peak production of 10,000 bopd vs. 5,000 bopd in the Niger Competent Persons Report (2021) compiled by CGG Services (UK) Limited.
3. Calculation based on European Investment Bank (EIB) Project Carbon Footprint Methodologies, Methodologies for the Assessment of Project GHG Emissions and Emission Variations, July 2020.
