A UK company has submitted an offer to acquire a promising licence offshore Benin that holds a potentially commercial oil and gas discovery.

Benin, located west of Nigeria, does not currently produce any hydrocarbons, but over the years various players have tried to find a way to exploit further the marginal shallow-water Seme field after output was halted in 1998.

This time it is London and Oslo-listed Zenith Energy that aims to crack the commerciality puzzle — if it secures a licence.