Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, continues to demonstrate its resilience and financial strength, judging by its recently released financial and operating performance report for the nine months to 30 September 2025, as it continued its growth trajectory in Nigeria and across Africa from the previous year.
The nine-month update indicated that its total revenues rose by 9% to US$185.2 million, compared to the US$169.3 million in the first nine months of 2024. It also reported a 5% increase in its cash collections, which came to US$241.6 million, compared to US$229.3 million in the corresponding period in 2024.
In terms of operations, the nine-month report shows that Savannah’s gross production in Nigeria averaged 20.1 Kboepd, of which 85% was gas. It reported a strong increase in production at its Stubb Creek facility to 3.3 kbopd, 24% above the 2024 average, as part of its 18-month expansion programme, following the completion of the acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited in March earlier this year. Well-site construction is also progressing well for the Uquo NE development well, scheduled to commence drilling in January 2026, with first gas expected by the end of that quarter and targeting volumes of up to 80 MMscfpd. This is expected to be followed by the back-to-back drilling of an exploration well on the Uquo Field, Uquo South.
Earlier in the year, the company reported a 21% 2P Reserves upgrade on its Uquo gas field and a 29% upgrade on its Stubb Creek oil field 2P Reserves. Collectively, these developments demonstrate the strong operational momentum within the Group and its continued focus on disciplined execution across all parts of its business.
The company also reported the completion and full commissioning of its new compression system at the Uquo Central Processing Facility. The project, which was delivered safely and approximately 10% under the original US$45 million budget, is expected to allow Savannah to maximise production from its existing and future gas wells. Savannah also announced that it has agreed to a gas contract extension with the Central Horizon Gas Company Limited to end in December 2026 for up to 10 MMscfpd.
Savannah is also expanding its footprint across Africa. For instance, Savannah, in Niger, is considering starting a four-well test programme and returning to exploration activities in the R1234 PSC contract area in 2026/27, subject to a satisfactory agreement being reached with the country’s government.
Savannah is moving forward with its plan to buy minority interests in three hydropower projects in East Africa, which includes the 255 MW Bujagali power plant in Uganda that has been successfully operating for 13 years and supplies c. 30% of the country’s electricity, along with two other projects that are in advanced stages of development and expected to provide power to over 30 million people in the region. This acquisition expands Savannah’s footprint across five new countries: Uganda, Burundi, the Democratic Republic of Congo, Malawi, and Rwanda.
The company continues to progress its existing priority Power Division projects in Africa, including the up-to-250 MW Parc Eolien de la Tarka wind farm project in Niger, expected to meet approximately 20% of the country’s electricity demand by 2029, and the up-to-95 MW Bini-Warak hybrid hydroelectric and solar project in Cameroon, expected to increase current on-grid electricity generation capacity in northern Cameroon by over 50%. Savannah is also actively reviewing opportunities in both the thermal and renewable power sectors, with the expectation of announcing further transactions, currently under consideration, over the course of the next 24 months in the African power space.
Commenting on the report, Andrew Knott, Chief Executive Officer of Savannah, said, “2025 has been a year of strong progress against the nine focus areas we set out at the beginning of the year. These include increasing our rate of cash collections in Nigeria, with performance remaining on track; advancing the refinancing of our principal Nigerian debt facilities, which we expect to complete by year-end; and successfully completing the acquisition of 100% of Sinopec International Petroleum Exploration and Production Company Nigeria Limited in March.”
