Savannah Energy to increase production at Stubb Creek Field, Nigeria
- Savannah Energy intends to increase production to about 4,700 bo/d.
- The acquisition increases Savannah's reserves and resources base by about 30%.
Savannah Energy PLC will increase production at Stubb Creek field in Akwa Ibom State, Nigeria, after completing the acquisition of Sinopec International Petroleum Exploration and Production Co. Nigeria Ltd.
SIPEC's principal asset is the 49% non-operated interest in Stubb Creek which is operated and 51% owned by Universal Energy Resources Ltd. (a Savannah affiliate company).
Savannah intends to start an 18-month expansion program to increase Stubb Creek field gross production to about 4,700 bo/d from a 2024 average of 2,700 bo/d.
The acquisition increases Savannah's reserves and resources base by about 30% to 197 MMboe from 151 MMboe and adds 227 Bscf of 2C gross gas Stubb Creek field resources.
Oil produced at Stubb Creek field is processed through production facilities onsite and then exported to the Qua Iboe terminal via a 25-km pipeline. The field was converted to a 20-year petroleum mining lease, PML20, in accordance with the Petroleum Industry Act 2021 and effective from Dec. 1, 2023.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).