Zenith Energy awarded licence for Tilapia oilfield in Republic of the Congo

  • Dec 23, 2020
  • Stock Market Wire

StockMarketWire.com - Oil company Zenith Energy said it had won a 25-year licence to operate the Tilapia oilfield in the Republic of the Congo.

The company had made a bid in July. Zenith said the award was subject to completion of an inquiry of public utility, to be organised during January, as well as subsequent finalisation of a production sharing contract.

Zenith would operate the Tilapia II licence in partnership with Congo's national oil company.

'The company is now positioned to benefit from a potentially transformational asset with highly prospective development and exploration potential in a prolific hydrocarbon basin,' chief executive Andrea Cattaneo said.

At 10:30am: [LON:ZEN] Zenith Energy Ltd share price was 0p at 0.35p

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