A letter, signed by the Chadian presidentโs secretary general, Gali Ngothe Gatta, said a number of โCameroonian personalitiesโ had flocked to Savannah. The company and its backers were interfering with Chadian officials, he said.
The Niger-Benin export pipeline will serve to unlock developments in Niger. The line is 75% complete, Savannah reported, and should be fully operational in the fourth quarter of this year.
At the same time that Savannah was announcing the cancellation of its deal to buy the Petronas assets in Chad, it set out an even more ambitious plan with the Malaysian company.
The move by Chad came despite the fact that Savannah had reversed production decline, the company said. Production reached 29,349 barrels per day since December 9, it said, up by 9%.
Savannah Energy (LON:SAVE) has completed its acquisition of ExxonMobilโs (XOM) assets in Chad and Cameroon, while launching a new deal this morning to acquire Petronasโ (KLSE:PETGAS) interests in South Sudan.
Savannah Energy has agreed to provide a convertible facility agreement to Lekoil, which intends to redouble its efforts to seize back control of its Nigerian subsidiary.
Some Nigerian communities will never receive a โfair shareโ of the cash generated from oil and gas produced in their neighbourhoods, a report has warned.