Confirming growing interest from international firms in South Sudan’s petroleum sector, London’s Savannah Energy has announced plans to acquire the oil and gas assets of Malaysia’s Petronas in South Sudan for $1.25 billion.
Once completed, the share purchase agreement would grant Savannah Energy interests in three joint operating companies, which operate Block 3/7 (40% working interest), Block 1/2/4 (30% working interest) and Block 5A (67.9% working interest). Petronas holds assets consisting of 64 producing fields that yielded an average of 153,200 barrels of oil per day in 2021.
