Savannah Seeks CFAF 228.6bn in Cotco Arbitration Involving SNH and Chad

Savannah Midstream Investment Limited (SMIL) is seeking more than $397 million, or about CFAF 228.6 billion including principal and interest, in arbitration before the International Chamber of Commerce (ICC) over its rights in Cameroon Oil Transportation Company (Cotco). Société Nationale des Hydrocarbures (SNH) is one of five respondents, alongside the Republic of Chad, SHT Overseas Petroleum (Cameroon) Limited, SHT Doba Pipeline Investment Inc. and Cotco. The claim includes about $330 million in principal, or nearly CFAF 190 billion, plus more than $67 million in interest, or at least CFAF 38.6 billion, as well as costs. Savannah describes the claim as approximately $330 million, plus more than $67 million in estimated interest and costs. The currency conversions are indicative and based on an exchange rate of about CFAF 576 to the dollar. The amounts, first disclosed in February 2026, remained unchanged in Savannah's August 25, 2026 regulatory filing. The proceedings are registered as ICC Case No. 27914/SP and are governed by the ICC's 2021 Arbitration Rules. The seat of arbitration is Paris, while publicly available case records identify Cameroonian ...
2026-09-28 18:30:50