Savannah Energy completed the acquisition of SIPEC Nigeria for $194m.

Savannah Energy, a British independent energy company, completed the acquisition of SIPEC Nigeria for $194m. "We are delighted to announce the completion of the SIPEC Acquisition - the achievement of one of our core business priorities for 2025. Our focus at the Stubb Creek Field will now turn to progressing the expansion project, which we expect to increase production by almost three quarters over the course of 2025/26. I look forward to updating shareholders on this in the coming months, as well as on the progress we make towards achieving the other core business priorities we outlined to shareholders earlier this month. I would like to thank the Government of Nigeria for the support that they have shown our Company in approving the SIPEC Acquisition and I extend a warm welcome to the SIPEC employees joining Savannah today," Andrew Knott, Savannah CEO.