Savannah strikes it lucky in the Sahara
UK independent can develop its Agadem field on the back of a major funding boost and pipeline access to world markets
British independent Savannah Petroleum is preparing to complete the Seven Energy gas deal in Nigeria—a move that will equip it with the financial clout to develop its Agadem field oil assets in neighbouring Niger. The news comes just weeks after Chinese major CNPC signed a cross-border pipeline deal with Benin and Niger that opens up Savannah’s prospects of exporting to the world market. Since 2014, Savannah’s five exploration wells have produced five discoveries in Agadem, a remote region on the fringes of the Sahara. Funding constraints have so far delayed investment to bring these into production—but this obstacle should soon be lifted by the somewhat-delayed Seven transaction. The London
Also in this section
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources
26 March 2024
Strategic stocks have become as much a market management tool as a security of supply buffer, and this new tactic is likely to continue beyond the next election
25 March 2024
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030