Nigeria, March 13 -- Savannah Energy PLC, the British independent energy company, announced that it has completed its acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited ("SIPEC").

The company, in a statement, said SIPEC's principal asset is the 49 per cent non-operated interest in the Stubb Creek oil & gas field, which is operated and 51 per cent owned by Universal Energy Resources Limited (a Savannah affiliate company).

It explained that the SIPEC acquisition increased Savannah's Reserves and Resources base by approximately 30 per cent from 151 MMboe to 197 MMboe, adding 227 Bscf of 2C gross gas Resources at Stubb Creek Field, securing significant additional long-term feedstock gas availab...