Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, has announced that it has mutually agreed to terminate the Share Purchase Agreement, SPA for PETRONAS with immediate effect.

The statement disclosed that it has entered into a Share Purchase Agreement (“SPA”) with PETRONAS International Corporation Limited (“PETRONAS”) to acquire PETRONAS’ upstream and midstream asset portfolio in Chad and Cameroon. Completion of the proposed acquisition remained subject to satisfaction of certain conditions precedent which have not yet been satisfied.