Nigeria oil and gas map, Stubb Creek

Nigeria: Savannah Energy buys Sinopec’s Stubb Creek oil and gas stake

Issue 503 - 26 Mar 2024 - By Marc Howard | 1 minute read

Savannah Energy has signed share purchase agreements (SPAs) with Sinopec and its local partner Jagal to acquire the 49% remaining interest in Sinopec International Petroleum Exploration and Production Company Nigeria Ltd (Sipec). Sipec’s principal asset is a 49% non-operated stake in the Stubb Creek oil and gas field in Akwa Ibom state.

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