Savannah Energy PLC, the British independent energy company focused on delivering Projects that Matter across Africa, has released its unaudited operational and financial update for FY 2025, highlighting solid execution across hydrocarbons, power and renewables. The year was marked by improved cash collections in Nigeria, disciplined capital delivery, and continued progress on growth projects spanning multiple African markets.
In Nigeria, Savannah reported average gross production of 18.8 Kboepd during FY 2025, with gas accounting for 83% of output. Following the completion of the SIPEC Acquisition in March 2025, the Company launched an 18-month expansion programme at the Stubb Creek oil field, driving average gross daily production to 3.0 Kbopd—around 13% higher than the 2024 average. The expansion underlines Savannah’s focus on maximising value from its core Nigerian assets.
Cash collections from Nigerian operations rose by more than 12% year-on-year to US$278.0 million, compared to US$248.5 million in FY 2024. This positive momentum has continued into 2026, with January collections exceeding US$64.4 million, a substantial increase from US$20.4 million recorded in January 2024, reflecting improved payment performance and operational resilience.
On the financial front, Savannah recorded total revenues of US$235.0 million for FY 2025. Cash balances increased to US$39.5 million as at 31 December 2025, while net debt stood at US$655.9 million. Gross debt totalled US$698.4 million, with only 6% recourse to the parent company, underscoring the largely non-recourse nature of its financing structure. Trade receivables also improved by 6% year-on-year to US$507.2 million.
Significant progress was made on refinancing, including the expansion of the Accugas debt facility to approximately NGN772 billion. By year-end, only around US$2 million remained outstanding under the US dollar facility, which was fully repaid in early 2026, strengthening Savannah’s balance sheet and liquidity position.
Operationally, Savannah advanced several key gas projects. Construction at the Uquo NE development well site is nearing completion, with rig mobilisation expected shortly and first gas targeted by the end of Q2 2026. Preparatory work has also begun on the Uquo South exploration well. Meanwhile, a new compression system at the Uquo Central Processing Facility has been safely delivered and commissioned around 10% below its original US$45 million budget, positioning the Company to maximise future gas production.
In the power and renewables space, Savannah continues to diversify its portfolio. The Company is targeting completion in H1 2026 of its proposed acquisition of indirect interests in three East African hydropower projects, including the 255 MW Bujagali power plant with a 13-year operating track record. This transaction would mark Savannah’s entry into five new countries—Uganda, Burundi, the Democratic Republic of the Congo, Malawi and Rwanda—while complementing its ongoing wind, solar and hybrid hydro projects in Niger and Cameroon.
Andrew Knott, CEO of Savannah Energy, said:
“2025 was a year of execution for Savannah. In Nigeria, we delivered a 12% increase in cash collections, progressed major refinancing initiatives, and materially increased production at Stubb Creek following the SIPEC acquisition. These achievements reflect the strength of our operating platform and our disciplined approach to capital allocation.”
He added:
“Across our broader portfolio, we advanced critical gas infrastructure, repositioned our power business, and moved closer to entering new African markets through established and development-stage renewable assets. This progress provides a strong platform for continued delivery in 2026 as we pursue further value-accretive opportunities across hydrocarbons and power.”