The Chadian government had earlier warned that it might ask the courts to block the sale of Exon's assets to Savannah.
Chad has nationalized all oil and gas assets, including hydrocarbon licenses, owned by the Exxon Mobil subsidiary, Reuters reported, citing the Central African Ministry of Energy and Hydrocarbons.
In December 2022, Exxon Mobil completed the sale of its assets in Chad and Cameroon to Savannah Energy for $407 million.
The transaction covered Exxon's 40% interest in the Doba oil project in southern Chad, and 40%'s indirect majority interest in the Chad-Cameroon export transport system.
The Doba oil project comprises seven producing oil fields, including Miandoum, Bolobo, Kome, Moundouli, Maikeri, Nya and Timbre.
The Doba oil project comprises seven producing oil fields, including Miandoum, Bolobo, Kome, Moundouli, Maikeri, Nya and Timbre. The Chad-Cameroon export transport system includes a 1,081 km pipeline and the Kome Kribi 1 floating storage and offloading facility, offshore Cameroon.
The sale was part of Exxon's plans to leave Africa due to declining crude oil production and focus on more profitable operations in the Americas and its LNG project in Mozambique.
However, the deal met with opposition from the Chadian government, citing that the final terms of the agreement were different from those presented by Exxon Mobil.
The ministry was quoted by the news agency as saying earlier: "The Doba oil operations and the Chad/Cameroon pipeline are vital and sovereign assets for Chad; they cannot be endangered by an irregular operation.
"Consequently, the Republic of Chad formally disputes the transaction between Exxon and Savannah."
On this front, the government has warned that it could urge the courts to block the sale of Exxon's domestic assets to Savannah and take further steps to protect its interests.