Savannah Energy in talks with Exxon to sell some Africa assets

PUBLISHED: Wed, 02 Jun 2021 12:21:27 GMT

June 2 (Reuters) – Africa-focused Savannah Energy said on Wednesday it was in exclusive talks with U.S. oil producer Exxon Mobil Corp for a proposed acquisition of its upstream and midstream assets in Chad and Cameroon.

The proposed deal would include a 40% operated interest in the Doba oil project, and a 40% interest in the Chad-Cameroon oil transportation pipeline, Savannah Energy said.

London-listed shares of Savannah Energy were last up nearly 7% at 19.25 pence. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

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