The Malaysian state-owned energy group Petronas has completed the sale of its upstream and midstream portfolio in Chad to Société des hydrocarbures du Tchad (SHT), the national oil company of Chad. Petronas had previously signed a share purchase agreement with Savannah Energy for its Chadian portfolio, which was terminated in December 2022. Petronas owns a 35% stake in seven oil producing fields (Kome, Miandoum, Bolobo, Moundouli, Maikeri, Nya and Timbre) in the Doba basin with a combined oil production of 28 kb/d (2022) and combined 2P reserve base of 142 mbl, and a 29.77% interest in COTCo (Chad Oil Transportation Company), the operator of the Chadian section of the 1,081 km-long Chad-Cameroon oil pipeline with a capacity of 250,000 bbl/d.
Previously, the Chadian government nationalised all the assets and rights held by ExxonMobil's affiliate Esso in the country, which held a 40% stake in seven producing oil producing fields in the Doba basin and a 40% interest in COTco.