San Leon Energy continued its theme of paying out dividends, while projecting better times ahead as pipeline losses are expected to fall dramatically.
San Leon Energy has signed a deal with Decklar Petroleum to finance the development of the Oza marginal field, in Nigeria.
Nigeria-focused San Leon Energy will stump up $15 million as a loan to secure the completion of the Alternative Crude Oil Evacuation System (ACOES), for exports from its OML 18.
San Leon Energy’s Nigerian production held steady in 2019 as downtime and pipeline losses reduced exports.
San Leon Energy has received $40 million under its loan notes agreement in Nigeria, while changing the terms of its lending.
San Leon Energy expects its new export route in Nigeria to be commissioned in May, following a week where force majeure was declared on its current shared pipeline.