Gulf Oil and Gas accountACCOUNT

Pre-qualification in Nigeria's 2020 Marginal Field Bid Round

Source: www.gulfoilandgas.com 8/20/2020, Location: Africa

Zenith Energy Ltd., the listed international oil & gas production company, is pleased to announce that it has successfully pre-qualified in the 2020 Marginal Field Bid Round ("2020 Bid Round"), organised by the Nigerian Department of Petroleum Resources ("DPR").

As announced on June 16, 2020, the Company is participating in the 2020 Bid Round in the capacity of technical and financial partner to a Nigerian registered oil and gas company.

Participation in the 2020 Bid Round entails a process commencing with the achievement of pre-qualification by companies deemed to have the necessary technical and financial capabilities to participate and duly registered in Nigeria to carry out hydrocarbon production and exploration activities by DPR, followed by submission of a commercial and technical bid for evaluation under a number of criteria by the Honourable Minister of Petroleum Resources ("HMPR"). It is concluded with the potential assignment of a Marginal Field once all the necessary formalities have taken place and final approval from the President of Nigeria, in accordance with the Petroleum Act (1969), is obtained.

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 represents an exceptionally rare opportunity for Zenith to acquire, at highly advantageous terms, a large, underdeveloped, near-term production asset. This is especially the case in the current low oil price environment.

Further, 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."

Exploration News in Nigeria >>

Norway >>  1/26/2021 - Lundin Energy AB announces that its wholly owned subsidiary, Lundin Energy Norway AS (together Lundin Energy), is completing exploration well 7219/11-...
Australia >>  1/25/2021 - Strike Energy has provided an update on the West Erregulla Appraisal Campaign well on behalf of the EP469 Joint Venture.

Current Operati...


Bahamas >>  1/25/2021 - Further to BPC's recent announcements in relation to the Court process in The Bahamas, on 22 January 2021 The Honourable Justice Petra Hanna-Adderley ...
Egypt >>  1/21/2021 - Eng. Tariq Al-Mulla, Egyptian Minister of Petroleum and Mineral Resources, has signed the concession agreement with Mubadala Petroleum for oil and gas...

Indonesia >>  1/21/2021 - NuEnergy Gas has received an Acknowledgement Letter (AL) from Indonesia’s Special Task Force for Upstream Oil and Gas Business Activities ('SKK Migas'...
Australia >>  1/19/2021 - Falcon Oil & Gas has announced that Origin Energy Resources, its Joint Venture partner, has submitted a notification of discovery and an initial repor...




Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.