PETRONAS (E&P) Overseas Venture Sdn Bhd announced that it has signed a share sale and purchase agreement (SPA) with Savannah Energy Chad Limited for the sale of its entire shareholding in PETRONAS Carigali Chad Exploration & Production Inc. (PCCEPI), its subsidiary in the Republic of Chad.

According to the SPA, Savannah Energy Chad Limited will be granted shares and interests in PCCEPI, DOBA Pipeline Investment Inc. (a shareholder in both Tchad Oil Transportation Company and Cameroon Oil Transportation Company), and PETRONAS Chad Marketing Inc,.

The transaction is pending regulatory approvals and fulfillment of conditions precedent, including consent from Chad’s Ministry of Petroleum and Energy.