Zenith Energy is set to complete negotiations with the Congo-Brazzaville Ministry of Hydrocarbons for renewal of the Tilapia permit with fresh terms and conditions within 60 days ahead of an eight-month drilling programme.
Located on coastal terrain to the north of Pointe Noire, Tilapia was previous operated by Anglo-African Oil & Gas (AAOG), which was acquired earlier this year by Zenith, listed on the London and Oslo Stock Exchanges, with registered offices in Calgary and Genoa, Italy.
Tilapia is currently pumping just 30 barrels per day so Zenith plans “to complete the producer well by deepening it” after licence renewal is confirmed, according to chief executive Andrea Cattaneo.
Zenith is eyeing the acquisition of additional assets in Congo-Brazzaville, neighbouring Gabon and also in Nigeria where the explorer aims to partner with indigenous companies in the ongoing Marginal Field Licensing Round.
Zenith is presently acquiring a 22.5% stake in Tunisia’s North Kairouan permit and the Sidi El Kilani concession, operated by the Kuwait Foreign Petroleum Exploration Company (Kufpec), and has been producing gas onshore Italy for eight years via six operated and three non-operated concessions.