News listings

energy-pedia farmouts/divestments

Tunisia flagTunisia

Middle East / Africa >>> Tunisia

Tunisia: Zenith Energy announces extension of SPA for acquisition of SLK from KUFPEC


08 Apr 2021

Photo - see caption

Zenith Energy has announced that its wholly owned subsidiary Zenith Energy Netherlands has signed an extension agreement in respect of the conditional sale and purchase agreement ('SPA') it signed with KUFPEC for a participation in, inter alia, the North Kairouan permit and the Sidi El Kilani Concession, which includes the Sidi El Kilani oilfield ('SLK'). For reference, signing of the SPA was announced to the market on April 20, 2020

KUFPEC holds an undivided 22.5% interest in the Tunisian Acquisition, together with 25 Class B shares in Compagnie Tuniso-Koweito-Chinoise de Pétrole (CTKCP), the operator, representing 25% of the issued share capital of the company.

Completion of the SPA remains conditional on a favourable opinion being granted by the Comité Consultatif des Hydrocarbures ('CCH') of the Republic of Tunisia and the approval of the Tunisian State represented by the Ministry of Industry and Energy in respect of the transfer of KUFPEC's right, title and interest in and under the SLK Concession to Zenith Netherlands.

The Extension has been granted in view of the difficulties caused by the ongoing COVID-19 pandemic which have not enabled Completion to be achieved. The new Longstop date for Completion of the SPA is June 30, 2021. 

Photo - see caption

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

'We look forward with enthusiasm to hopefully completing the acquisition of SLK in due course once we receive a favourable opinion from the CCH and the approval of the Tunisian State.

The Board is increasingly confident regarding Zenith Energy's establishment in Tunisia, where we are currently assessing certain additional oil production and development opportunities to further enrich our portfolio.'

For further information on this opportunity, see our premium subscrition service - Energy-Pedia Opportunities - which has details of 368 currently available upstream opportunities worldwide, along with details of over 6000 completed deals and details of all current and historic worldwide licensing rounds.

Original article link

Source: Zenith Energy





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 372

Completed Deals

Completed Upstream Deals: 6065

Company Profiles

Current Company Profiles: 2767

Corporate Activity

Current Corporate Activity articles: 3645

Companies Looking

Current number of articles: 447

Company Sales

Current Company Sales articles:1472

Geostudies

Current Geostudies articles: 784

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

SLR Consulting logo
OPC
Rose & Assocs 149
energy365
Union Jack Oil 149
Government of South Australia
Bayphase
KL Publishing
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com