Savannah Energy to acquire Chad interests from PETRONAS

Savannah Energy Chad Ltd. has agreed to acquire the entire shareholding of PETRONAS Carigali Chad Exploration & Production Inc. (PCCEPI), the PETRONAs (E&P) Overseas Venture Sdn Bhd subsidiary in the Republic of Chad.

The agreement includes the transfer of PCCEPI’s shares and interests in PETRONAS Carigali Chad (EP) Inc., DOBA Pipeline Investment Inc. (a shareholder in both Tchad Oil Transportation Co. and Cameroon Oil Transportation Co.), and PETRONAS Chad Marketing Inc., to Savannah Energy.

The transaction is pending regulatory approvals and fulfillment of conditions precedent, including the approval from Chad’s Ministry of Petroleum and Energy.