Savannah Energy to acquire Chad exploration and production business of PETRONAS for $266m.

Savannah Energy, a British independent energy company, agreed to acquire Chad exploration and production business of PETRONAS, a Malaysian oil and gas company a Malaysian oil and gas company, for $266m. This proposed sale is aligned with PETRONAS’ asset rationalisation strategy shaped by a regular review of its investments to ensure a better fit with its growth ambitions in the changing industry environment and accelerated energy transition landscape.