<ARTICLE>                     5
<LEGEND>
     this Schedule  contains summary  financial  information  extracted from the
consolidated  balance sheet at December 31, 1997 and  consolidated  statement of
income for year ended  December  31,  1997,  and is qualified in its entirety by
reference to Form 10-K for the fiscal year ended December 31, 1997.
</LEGEND>
<CIK>                                          0000312340
<NAME>                                         Saba Petroleum Company
<MULTIPLIER>                                   1000
<CURRENCY>                                     U.S.dollars
       
                             
<PERIOD-TYPE>                   year
<FISCAL-YEAR-END>                              Dec-31-1997
<PERIOD-START>                                 Jan-01-1997
<PERIOD-END>                                   Dec-31-1997
<EXCHANGE-RATE>                                1.000
<CASH>                                         1,508
<SECURITIES>                                   6,528
<RECEIVABLES>                                  (69)
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               12,556
<PP&E>                                         84,931
<DEPRECIATION>                                 (22,325)
<TOTAL-ASSETS>                                 77,657
<CURRENT-LIABILITIES>                          24,280
<BONDS>                                        19,610
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    8,514
<COMMON>                                       11
<OTHER-SE>                                     23,629
<TOTAL-LIABILITY-AND-EQUITY>                   77,657
<SALES>                                        0
<TOTAL-REVENUES>                               35,996
<CGS>                                          0
<TOTAL-COSTS>                                  28,997
<OTHER-EXPENSES>                               365
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             2,305
<INCOME-PRETAX>                                4,329
<INCOME-TAX>                                   1,876
<INCOME-CONTINUING>                            0
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   2,397
<EPS-PRIMARY>                                  0.23
<EPS-DILUTED>                                  0.22