Savannah Oil saved more than CFA5 billion on its investment thanks to the 2013 investment promotion law

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Savannah Oil saved more than CFA5 billion on its investment thanks to the 2013 investment promotion law

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- Monday, 23 October 2017 19:28

(Business in Cameroon) - Savannah Oil Services, a Cameroonian company, is now operating alongside the British oil and gas company VOG, through this company’s subsidiary in Cameroon (Gaz du Cameroun-GDC), for natural gas extraction and sale at the Logbaba gas field, in the country’s economic capital.

According to its executives, Savannah Oil Services was established in 2016, as the result of the 2013 Law, on private investments incentives in Cameroon, which grants exonerations over a period of 5 to 10 years to companies during their creation and operation stages.

This regulatory provision enabled Savannah Oil Services to save about $10 million (more than CFA5 billion) on the overall investment projected for its launch, Jean Claude Tchagou Tiegue, the company's promoter said to the Quotidien gouvernemental.

BRM

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