Savannah Energy has again announced the termination of its deal with Petronas. Savannah in a press statement said completion of the deal was terminated because of certain conditions which both parties could not reach any satisfaction on hence the decision to call off the engagement.
Savannah had on December 13 2021 announced that it had entered into a Share Purchase Agreement (“SPA”) with PETRONAS (E&P) Overseas Ventures SDN. BHD. (“PETRONAS”) to acquire PETRONAS’ upstream and midstream asset portfolio in Chad and Cameroon.