British independent energy company Savannah Energy has engaged in discussions with ExxonMobil about the sale of the U.S. major’s upstream and midstream assets in Chad and Cameroon.
Savannah has offered to buy ExxonMobil’s 40% stake in the Doba oil project in Chad, which produced 33,700 barrels per day (bpd) in 2020, and a 40% stake in the Chad-Cameroon oil pipeline, which transported 129,200 bpd in the same year.
“Our proposed acquisition of ExxxonMobil’s assets in Chad and Cameroon follows our strategy of conducting projects that matter in Africa,” said Andrew Knott, CEO of Savannah. “The assets are a great potential fit for our company and we look forward to closing the transaction out and delivering material stakeholder value post-close.”
“We continue to high-grade our portfolio by divesting non-core assets that no longer compete for capital within our industry-leading portfolio of opportunities,” ExxonMobil said in a statement.