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Sierra Leone’s Petroleum Directorate extended the Fifth Licensing Round in January 2023 (Image: TGS)

Mansaray further noted that Sierra Leone had He also told the AEC that Sierra Leone’s
launched its fifth licensing round in 2022, put- basins were similar to those of Guyana, where
ting 56 blocks covering 63,000 square km on large oil discoveries have been made in recent
offer in ultra-deepwater basins. The government years. The country hopes to attract international
aims to choose technically sound companies oil companies (IOCs), both majors and inde-
as partners is keen to learn from neighbour- pendents, to its offshore zone in order to explore
ing countries to ensure the sector’s growth, he and develop its resources and boost economic
commented. development, he said. ™

Savannah Energy prepares to fight

nationalisation of assets in Chad

CHAD SAVANNAH Energy, the UK-based independ-
ent company, has said it intends to fight a gov-
ernment decree nationalising its assets in Chad.
The decree seeks to take over the upstream
production assets of Savannah Chad Inc (SCI).
These assets were bought from ExxonMobil’s
subsidiary Esso Exploration and Production
Chad Inc (EEPCI). The company, which com-
pleted its acquisition of EEPCI on December 9,
2022 for $407mn, believes that Chad’s actions
are in direct violation of the conventions agreed
to by SCI and the Republic of Chad.
The decree also comes despite Savannah’s
progress at the site, which has seen it success-
fully reverse the production decline by increas-
ing daily production to 29,349 barrels per day EEPCI’s upstream assets in Chad include seven oilfields (Image: Savannah Energy)
(bpd), which is approximately 9% higher since
December 9, 2022. At the time the deal was made, the Chadian
Savannah Energy plans to use all of its legal government warned that it might seek legal
rights in the jurisdiction of an ICC tribunal in action to impede the acquisition and pursue
Paris, according thad o a company statement. additional measures to safeguard national
The government of Chad has been disput- interests. EEPCI’s assets encompassed a 40%
ing ExxonMobil’s sale of its assets to Savannah ownership in Chad’s Doba oil project, consist-
Energy on the grounds that the final terms of the ing of seven operational oilfields that collectively
deal were not in line with what it been presented. produce 28,000 bpd.

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