Exxon completes sale of Chad, Cameroon operations for $407 million

Exxon Mobil Corp XOM on Friday closed a $407 million sale of its operations in Central Africa's Chad and Cameroon to London-listed firm Savannah Energy PLC SSAVEL.

Savannah acquired Exxon's 40% stake in the Doba oil project, which comprises seven producing oilfields with a combined output of 28,000 barrels per day (bpd), it said in a corporate filing.

Savannah has operated in Nigeria and Niger. The British firm also will take over Exxon's 40% indirect interest in the Chad-Cameroon export transportation system - a 1,081-km (672-mile) pipeline and floating storage and offloading facility offshore in Cameroon.