{"id":13113,"date":"2023-01-11T07:36:55","date_gmt":"2023-01-11T07:36:55","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13113"},"modified":"2023-01-11T07:36:55","modified_gmt":"2023-01-11T07:36:55","slug":"benin-zenith-energy-granted-exclusivity-for-block-1-seme-field","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/benin-zenith-energy-granted-exclusivity-for-block-1-seme-field\/","title":{"rendered":"BENIN: Zenith Energy Granted Exclusivity for Block 1, S\u00e8m\u00e8 Field"},"content":{"rendered":"

Zenith Energy has<\/span> announced<\/span> that the Ministry of Water and Mines of the Republic of Benin has awarded Zenith Energy an exclusivity for a period of three months to negotiate and finalise the terms of a Production Sharing Contract for<\/span>\u00a0Block 1 containing the S\u00e8m\u00e8 oilfield, offshore Benin.<\/span><\/p>\n

The Company announced the submission of an offer for Block-1 on\u00a0September 22, 2022.<\/span><\/p>\n

Andrea Cattaneo, Chief Executive of Zenith, commented:<\/span><\/p>\n

“We are extremely pleased to have been granted the Exclusivity to negotiate and finalise the terms of a PSC for Block-1 by the authorities in\u00a0Benin.<\/span><\/p>\n

Block-1 represents a potentially transformational development opportunity for Zenith because of its sizeable unexploited potential, indicated by its independently assessed oil and gas reserves and past production, and existing field infrastructure.<\/span><\/p>\n

We view\u00a0Benin\u00a0as an attractive jurisdiction for foreign investment and we look forward with great enthusiasm to working closely with the local authorities towards successfully formalising the PSC.”<\/span>\u00a0<\/span><\/p>\n

About Block-1<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Discovered in 1967 by Union Oil, Block-1 covers 551 sq. km with over 355 sq. km of recent 3D seismic data taken between 2001-2014.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Located in shallow water (30m) offshore with onshore facilities and tank farm for processing of oil production.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0A proven oilfield, with significant unexploited potential, having independently assessed recoverable reserves (2P) of 22-28 million barrels of oil and 428 billion cubic feet of natural gas (Kerr McGee\u00a02005) for the original<\/span><\/span>\u00a0S\u00e8m\u00e8\u00a0oilfield.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Has produced a reported 22 million barrels of oil to date, with last commercial production having taken place in 1998 when oil prices were below approximately\u00a0US$10\u00a0per barrel.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Historical Recovery Factor of 22%, leaving significant margin for improvement of the recovery factor utilising modern completion techniques, horizontal drilling, and improved 3D seismic.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Last produced at a rate of approximately 2,000 barrels of oil per day in 1998.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Average historical well production rates ranging between 1,500 – 3,000 barrels of oil per day.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0The last operator is reported to have made infrastructure investments for an amount exceeding\u00a0US$100 million\u00a0prior to exiting the project due to low oil prices.<\/span><\/span>\u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0A new ‘<\/span><\/span>S\u00e8m\u00e8\u00a0North’ oilfield<\/span>\u00a0was discovered in 2015 with a reported discovery of an additional 100 million barrels<\/span><\/span>\u00a0of oil in place with estimated (2P) recoverable reserves of 16 million barrels utilizing a Recovery Factor of 16%.<\/span>[i]<\/span>\u00a0It is expected that improvements in the Recovery Factor might be achieved with modern completion and drilling techniques to reach a Recovery Factor of above 30%. \u00a0<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 27 wells\u00a0have been drilled in Block-1: 24 in the original<\/span>\u00a0S\u00e8m\u00e8<\/span>\u00a0oilfield, with the last 3 wells having been drilled in 2014-15 to discover<\/span>\u00a0S\u00e8m\u00e8 North<\/span>. These wells discovered and tested oil in the H5 & H6 reservoirs, the same reservoirs that were producing in the original<\/span>\u00a0S\u00e8m\u00e8<\/span>\u00a0oilfield, in a separate structure. However, due to\u00a0the\u00a0prevailing oil price at the time (approximately\u00a0US$30) further development activities were deemed non-commercial.<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Significant development and exploration potential in the emerging Syn-Rift play extending from neighbouring\u00a0Nigeria.<\/span><\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Production facilities comprised of three platforms:<\/span>\u00a0two located in the<\/span>\u00a0S\u00e8m\u00e8<\/span>\u00a0Field, with the last being installed during 2013-2016 to develop the newly discovered<\/span>\u00a0S\u00e8m\u00e8<\/span>\u00a0North.\u00a0Zenith Energy\u00a0has already conducted preliminary site visits to inspect the infrastructure.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Zenith Energy has announced that the Ministry of Water and Mines of the Republic of Benin has awarded Zenith Energy an exclusivity for a period of three months to negotiate … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[7195,253,10962,10961,10963,9016],"class_list":["post-13113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-benin","tag-block-1","tag-ministry-of-water-and-mines","tag-seme-oilfield","tag-union-oil","tag-zenith","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/01\/Benin-Block-1.jpg?fit=700%2C543&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3pv","jetpack-related-posts":[{"id":14982,"url":"https:\/\/www.oilnewskenya.com\/index.php\/benin-akrake-signs-contracts-for-production-vessels-for-seme-field\/","url_meta":{"origin":13113,"position":0},"title":"BENIN: Akrake Signs Contracts For Production Vessels For Seme Field","author":"","date":"May 5, 2025","format":false,"excerpt":"Rex International and together with its subsidiaries announces that its indirect subsidiary, Akrake Petroleum Benin S.A., has confirmed that it had on 25 April 2025, signed contracts for a Mobile Production Unit (MOPU) and an Aframax tanker to be used as a Floating Storage and Offloading (FSO) unit for Akrake\u2019s\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/Benin-Akrare.jpg?fit=1200%2C540&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/Benin-Akrare.jpg?fit=1200%2C540&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/Benin-Akrare.jpg?fit=1200%2C540&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/Benin-Akrare.jpg?fit=1200%2C540&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/05\/Benin-Akrare.jpg?fit=1200%2C540&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":15566,"url":"https:\/\/www.oilnewskenya.com\/index.php\/benin-seme-field-in-block-1-expected-to-commence-production-next-week\/","url_meta":{"origin":13113,"position":1},"title":"BENIN: S\u00e8m\u00e8 Field in Block 1 expected to Commence Production Next Week","author":"","date":"January 26, 2026","format":false,"excerpt":"Rex International Holding Limited together with its subsidiaries wish to announce that Rex\u2019s indirect subsidiary Akrake Petroleum Benin S.A. is finishing drilling operations on the AK-2H production well in the S\u00e8m\u00e8 Field in Block 1, Benin. The well is expected to be ready for production during the first week of\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Benin-Seme-Field.png?fit=737%2C439&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Benin-Seme-Field.png?fit=737%2C439&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Benin-Seme-Field.png?fit=737%2C439&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/01\/Benin-Seme-Field.png?fit=737%2C439&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13320,"url":"https:\/\/www.oilnewskenya.com\/index.php\/olive-energy-ep-awarded-a-licence-to-operate-the-tilapia-oilfield\/","url_meta":{"origin":13113,"position":2},"title":"Zenith Energy Disappointed as Olive Energy E&P Awarded a Licence to Operate the Tilapia oilfield","author":"","date":"February 23, 2023","format":false,"excerpt":"Zenith Energy says it has now become aware that a company named Olive Energy E&P has been awarded a licence to operate the Tilapia oilfield adding it is disappointed by this development. Zenith Energy that had previously announced the successful completion of an\u00a0Inquiry of Public Utility (Enqu\u00eate d'Utilit\u00e9 Publique) (IPU),\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Congo-Tilapia-field.jpg?fit=462%2C584&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10187,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zenith-energy-awarded-extension-of-spa-for-acquisition-of-slk-from-kufpec\/","url_meta":{"origin":13113,"position":3},"title":"Zenith Energy Awarded Extension of SPA for acquisition of SLK from KUFPEC","author":"","date":"April 9, 2021","format":false,"excerpt":"Zenith Energy Ltd. has announced that its\u00a0wholly owned subsidiary Zenith Energy Netherlands B.V. has signed an extension agreement in respect of the conditional sale and purchase agreement (SPA) it signed with KUFPEC (Tunisia) Limited, a 100% subsidiary of Kuwait Foreign Petroleum Exploration Company K.S.C.C, a subsidiary of the State of\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Tunisia-Sidi-El-Kilani.jpg?fit=700%2C863&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Tunisia-Sidi-El-Kilani.jpg?fit=700%2C863&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Tunisia-Sidi-El-Kilani.jpg?fit=700%2C863&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/09\/Tunisia-Sidi-El-Kilani.jpg?fit=700%2C863&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":9098,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tunisia-zenith-energy-acquires-sidi-el-kilani-from-cnpc\/","url_meta":{"origin":13113,"position":4},"title":"TUNISIA: Zenith Energy Acquires Sidi El Kilani from CNPC","author":"","date":"September 11, 2020","format":false,"excerpt":"Zenith Energy has announced that its\u00a0wholly owned subsidiary Zenith Energy Netherlands B.V. has signed a conditional sale and purchase agreement (SPA) with CNPC International (Tunisia) Ltd., a 100% subsidiary of CNPCI,\u00a0CNPC International Ltd., for the acquisition of a\u00a0working interest in, inter alia, the North Kairouan permit and the Sidi El\u2026","rel":"","context":"In 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Kilani","author":"","date":"June 11, 2020","format":false,"excerpt":"Zenith Energy has announced that it has made payment for a total of US$250,000 to Kuwait Foreign Petroleum Exploration Company K.S.C.C (KUFPEC), a subsidiary of the State of Kuwait's national oil company, in relation to the acquisition of a 22.5% working interest in the North Kairouan permit and the Sidi\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/TINISIA-SIDI-EL-KILANI.jpg?fit=399%2C530&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=13113"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13113\/revisions"}],"predecessor-version":[{"id":13115,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13113\/revisions\/13115"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13114"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}