Savannah Energy, an independent energy company focused on delivering exploration and production Projects across Africa, has achieved first gas from Uquo NE and is now on stream, after successfully testing at approximately 50 MMscfd.
According to Andrew Knott, CEO of Savannah, as stated in the company’s quarterly reports, the company is currently completing the Uquo South exploration well, where it discovered gas in most of the targeted reservoirs. Upon completion, it will undertake further testing and evaluation to assess the significance and potential resource implications of the discovery.
Savannah oil production expansion programme at Stubb Creek has continued to deliver, with average gross daily production increasing by 29% year-on-year to 3.7 Kbopd for the first seven months of 2026 and exceeding 5.0 Kbopd for July. The programme as a whole is targeting annual average gross production of up to 4.7 Kbopd.
“Savannah continues to make strong progress against the nine core focus areas we set out for the business at the start of 2025. In Nigeria, I am particularly pleased that Uquo 13, formerly known as Uquo NE, has achieved first gas and is on stream,” Andrew Knott, CEO of Savannah, said.
“Financially, we have maintained a strong momentum in cash collections in the year to date, with collections increasing by 13% year-on-year to US$247.9 million for the first seven months of 2026. Revenue increased by 10% over the same period, while our Trade Receivables balance has reduced by 22% since year-end 2025 to US$394.6 million,” He added.
Andrew Knott further stated that the company is currently focused on delivering further operational progress from the existing asset base, including the testing and evaluation of Uquo South and the continued expansion at Stubb Creek, while actively pursuing value-accretive acquisition opportunities across both hydrocarbons and power.
Following completion of the SIPEC Acquisition in March 2025, the production expansion programme underway at Stubb Creek has delivered a 29% year-on-year increase in average gross daily production to 3.7 Kbopd for 7M 2026 (7M 2025: 2.8 Kbopd). Average production in July 2026 was in excess of 5.0 Kbopd.
The group average gross daily production was 16.3 Kboepd for 7M 2026 (FY 2025: 18.8 Kboepd). With Uquo 13 now on stream, average gross daily production is expected to exceed 20 Kboepd over the remaining five months of the year, with FY 2026 average gross daily production anticipated to be in the range of 18-20 Kboepd, including further upside potential from the Uquo South exploration well1.
The company is actively reviewing opportunities in both the oil and gas and thermal and renewable power sectors, with the expectation of announcing transaction(s) over the course of the next 24 months.
