LAGOS, Nov 15 (Reuters) - Savannah Petroleum SAVP.L has
concluded its purchase of Nigerian oil and gas company Seven
Energy International, it said in a statement on Friday.
The conclusion of the deal, first announced in 2017,
followed a court hearing earlier this week where administrators
appointed to Seven Energy and effected the transfer of assets.
The acquisition is a significant boost for Savannah, which
has operations in Niger and Nigeria. "We see strong potential for additional resource growth over
time," Savannah chairman Steve Jenkins said.
The Seven Energy assets produce around 20,000 barrels of oil
equivalent per day (boe/d) - mainly gas - onshore in Nigeria.
The assets have proven and probable reserves of 92 million boe,
and a 200 million standard cubic feet per day gas plant and 260
km (160 miles) of pipelines.
Savannah has previously said it that is looking for other
assets in bilateral deals in Nigeria that are producing or can
easily be put into production. [https://reut.rs/2qTgMYM]