The CEO of Savannah Energy Plc visits SNH.

He was received by the Executive General Manager, Adolphe Moudiki, at the company's head office in Yaoundé on 19 April.

For the reception of CEO Andrew Knott and his delegation, Mr Moudiki was accompanied by five close collaborators, namely the Head of the Legal Division and her deputy, the Financial Manager, the Permanent Secretary of PSMC and the Legal Counsel of SNH.

On Savannah side, the CEO's delegation included the Vice President of Savannah Energy Plc for Africa, the Secretary General of COTCO and Savannah Energy Plc's legal advisors.

The meeting resulted in the signing of an agreement for the sale by Savannah Midstream Investment Limited (SMIL) and the purchase by SNH of 10% of the issued share capital in Cameroon Oil Transportation Company S.A. (COTCO). The cost of the acquisition is USD 44.9 million.

The transaction will increase SNH's stake in COTCO to 15.17%.