Savannah Signs MoU in Nigeria

Sunday, November 20, 2016

Savannah Petroleum signed a MoU with the New Nigeria Development Co. (NNDC) and Nigeria National Petroleum Corp. (NNPC), Nigeria’s state-run oil firm, in relation to collaboration between the three parties in the Nigerian section of the Central African Rift System.

Under the terms of the MoU, the three firms will establish Technical and Steering Committees to manage the process of evaluating the technical and commercial prospectivity of this materially underexplored region.

Savannah expects to enter into additional agreements over time with NNDC and NNPC and is also in discussions with its new partners in relation to the pursuit of other potential opportunities in Nigeria. Further updates will be provided as appropriate.

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