Press

Savannah Petroleum - Update on Seven Energy Transaction

Posted by OilVoice Press - OilVoice

12-Oct-2018


Savannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, is pleased to provide an update on the process of obtaining Ministerial Consent in relation to approval of the Seven Energy Transaction (the “Transaction”).

Following submission of the revised terms of the Transaction detailing the additional acquisitions, as announced by the Company on 20 September 2018, to the Nigerian Department of Petroleum Resources (the “DPR”), the Company is pleased to confirm that the DPR has informed Savannah that it has now completed its due diligence in relation to, and is fully satisfied with, the Transaction. Further, the application for Ministerial Consent for the Transaction is currently being processed with the DPR for further transmission to the office of the Minister of State for Petroleum Resources for final approval.

As per the announcement on 20 September 2018, the Company continues to anticipate that the Implementation Agreement will be executed by the interested parties by the end of October 2018. Savannah therefore continues to expect the Transaction, including the Ministerial Consent process, to complete during Q4 2018.

Unless otherwise defined, capitalised terms are as per the Company's Admission Document dated 22 December 2017.

SVPSavannah PetroleumSeven EnergyNigerNigeria

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 2 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 3 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 3 months agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 3 months agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice