LONDON (Alliance News) - Oil and gas firm Savannah Petroleum PLC said Wednesday it has submitted a feasibility study to the government of Niger.
The study covers the R3 East part of Savannah's R3/R4 production sharing contract in the Agadem Rift basin in the south-east of the African country.
It includes Savannah's plans to develop resources found in 2018 drilling, in which the company made five discoveries from five wells.
Chief Executive Andrew Knott commented: "We are very pleased to have submitted our feasibility study in relation to our planned R3 East early production system in Niger.
"The feasibility study is a key marker along the way to us bringing our R3 East discoveries into production, and a further endorsement of our commitment to further developing Niger's oil industry."
"We look forward to continuing to collaborate closely with the Ministry of Energy & Petroleum in Niger as we finalise plans for our upcoming well test on Amdigh-1, as well as for our next phase of exploration drilling," Knott added.
Savannah shares were 1.1% higher on Wednesday at a price of 25.68 pence each.
