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Savannah Petroleum inks contract for seismic programmes Niger

It is expected that the programme will get underway in the first half of this year.
Savannah Petroleum inks contract for seismic programmes Niger
Savannah has already identified 14 drill-ready prospects with the R1/R2 area.

Savannah Petroleum (LON:SAVP) has told investors that framework contracts have now been signed for planned seismic exploration programmes in Niger.

Contractor BGP Niger SARL will now provide 2D and 3D land seismic acquisition services for Savannah’s R1/R2 and R3/R4 licence areas, in South East Niger.

It is expected that the programme will get underway in the first half of this year.

Savannah’s exploration position covers an expanse within the Agadem Rift Basin, and is located nearby to areas that have been successfully drilled out by the China National Petroleum Company (CNPC).

The acreage was secured by Savannah following CNPC’s mandatory relinquishment (the Chinese firm had to let go of a portion of its landholding due to its production sharing contract terms).

An independent assessment of Savannah’s acreage estimated some 1.19bn barrels of prospective oil resources within the R1/R2 area where it has 14-drill ready prospects, while the adjoining but less explored R3/R4 area was acquired by the company last summer.

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