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Zenith Energy successfully pre-qualified in Nigeria’s 2020 Marginal Field Bid Round


London-listed Zenith Energy Ltd. (ZEN), international oil & gas production company, announced that it has successfully pre-qualified in the 2020 Marginal Field Bid Round, organised by the Nigerian Department of Petroleum Resources. The acquisition is in line with the Company’s strategy of identifying opportunities in Africa. Zenith has recently acquires assets in Tunisia and in the Republic of the Congo. 

Andrea Cattaneo, Chief Executive Officer, commented:

“We are very pleased to have successfully pre-qualified for the 2020 Bid Round with our Nigerian partner. This Bid Round is an exceptionally rare opportunity for Zenith to acquire at highly advantageous terms, an underdeveloped, near-term production asset in the current low oil price environment. 

Indeed, the near-term production potential of certain assets is expected to facilitate the achievement of financing agreements to support the required acquisition and development costs necessary to restore commercial production from these assets. I look forward with great enthusiasm to further progressing this opportunity.”  ​

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