Zenith is claiming at least $48 million under the ISCID case. It did not specify a value for the separate ICC proceedings.
Slightly more than three hours later, Zenith announced the signing of a memorandum of understanding for an asset in Kazakhstan.
Ahmed Ouenes, CEO and founder of Olive Energy, said the company had carried out work with SNPC. The two companies had drilled and produced multiple wells during 2021-22, with flow rates “much higher” than current production.
The MoU today demonstrates that “not only are we are strengthening our energy security and lowering bills for consumers in the long term, we’re unlocking huge opportunities for investment in British expertise and jobs in the process”.
Zenith said there were near-term growth opportunities. This would involve infill drilling and sidetracks for six new wells, boosting output to 15,000 bpd.
Zenith Energy has made an offer to take over Block 1 offshore Benin, which holds the Sèmè oilfield.
Ajax Resources has raised £1.34 million via an IPO on the London Stock Exchange’s Main Market.
ADM Energy’s board has seen off a shareholder activist attempt at revolution, while a legal challenge over an oilfield in Nigeria has been pushed back.
AIM-listed ADM Energy is coming under sustained pressure from major shareholders as it fights to hold on to a contested oilfield in Nigeria.
Zenith Energy and ADM Energy appear set to clash over an oilfield offshore Nigeria, with both companies laying claim to a stake in it.
Zenith Energy has struck a deal to acquire a 45% stake in Tunisia’s Ezzaouia concession, under a deal with Candax Energy.
Zenith Energy has successfully bid for the Tilapia II licence, as the company closes out its Azerbaijani interests.
Zenith Energy is no longer the operator of the Tilapia licence in Congo Brazzaville, the company has said.
Zenith Energy plans to partner with a local company in Nigeria’s marginal field bid round.
Zenith Energy has paid $250,000 to Kuwait Foreign Petroleum Exploration Co. (KUFPEC) as a first payment for its acquisition of the Sidi El Kilani concession in Tunisia.
A cluster of ships with American oil has been heading to a small terminal in southern Ireland as buyers search for places to store crude in the wake of a global demand slowdown.
Zenith Energy has extracted better still terms from embattled Anglo African Oil & Gas (AAOG) on the sale of the Tilapia oilfield, in Congo Brazzaville.
Zenith Energy has tweaked the terms under which it was to acquire the Congolese unit of Anglo African Oil & Gas (AAOG), reducing the price by 20%.
Zenith Energy intends to drill on the Tilapia licence in Congo Brazzaville in April while planning exploration drilling in Azerbaijan this year.
Well engineering firm Zenith Energy is expecting an even better year ahead after UK office turnover soared by 80% during 2019.
A counter offer has emerged for Anglo African Oil & Gas (AAOG), following Zenith Energy’s offer at the beginning of the week.
Zenith Energy has struck a first deal in Africa with an agreement to buy an 80% stake in the local unit of troubled Anglo African Oil & Gas (AAOG) in Congo Brazzaville.
Well engineering and project management firm Zenith Energy, of Aberdeen, has started work on a £1 million, six-month contract in Morocco.
Azerbaijan-focused Zenith Energy has raised £2.2 million through the placing of 54.2 million new common shares.