{"id":9668,"date":"2021-01-11T08:58:12","date_gmt":"2021-01-11T08:58:12","guid":{"rendered":"https:\/\/oilnewskenya.com\/?p=9668"},"modified":"2021-01-11T08:58:12","modified_gmt":"2021-01-11T08:58:12","slug":"zenith-energy-signs-cooperation-agreement-for-new-acquisitions-in-mena-region","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/zenith-energy-signs-cooperation-agreement-for-new-acquisitions-in-mena-region\/","title":{"rendered":"Zenith Energy Signs Cooperation Agreement for New Acquisitions in MENA Region"},"content":{"rendered":"

Zenith Energy Ltd. <\/span>\u00a0<\/span>has announce that it has entered into a cooperation agreement\u00a0 with Fleet Oil & Gas S.A.,\u00a0 a privately owned oil and gas company led by the former Egyptian Petroleum Minister, His Excellency Eng. Mahmoud Latif Amer. Fleet is headquartered in Dubai, United Arab Emirates and has a representative office in Cairo, Egypt. The purpose of the CA is to jointly identity and pursue oil and gas production and exploration acquisitions in the Mediterranean, the Middle East and Africa.<\/span>\u00a0<\/span><\/p>\n

Under the terms of the CA, Zenith and Fleet will jointly identify certain potential acquisition opportunities and conduct due diligence on any transaction that is deemed to be a suitable potential acquisition. In the event a Potential Acquisition is mutually approved and taken forward following the completion of a satisfactory due diligence exercise, the Parties have agreed to enter into a joint venture agreement to be made by way of a newly incorporated vehicle, which will be subject to a separate agreement at the time.<\/span>\u00a0<\/span><\/p>\n

The Company is pleased to confirm that the Parties are reviewing a number of Potential Acquisitions, both operated and non-operated, with a production rate in excess of 2,000 barrels of oil per day.<\/span>\u00a0<\/span><\/p>\n

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:\u00a0<\/span>“I am delighted to have started this cooperation with Fleet at a particularly exciting juncture in our development in Africa.\u00a0<\/span>Fleet has significant expertise in identifying highly attractive oil and gas projects, as well as having an impressive network of high-level contacts across the region.\u00a0<\/span>We are already at advanced stage of cooperation with the Fleet team to jointly progress a number of compelling opportunities to enhance our portfolio, as well as exploring potential project financing from certain Middle Eastern financial institutions for our intended operational activities during 2021.”<\/span><\/p>\n

Eng.\u00a0Essam Kafafi, Chief Executive Officer of Fleet, commented:<\/span><\/p>\n

“Fleet Oil and Gas\u00a0is proud to announce its collaboration with Zenith, a definitive step towards expanding our oil and gas offerings in the region. I am confident this cooperation will help us as we continue to strengthen and grow our position and capabilities.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Zenith Energy Ltd. \u00a0has announce that it has entered into a cooperation agreement\u00a0 with Fleet Oil & Gas S.A.,\u00a0 a privately owned oil and gas company led by the former … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8348,"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],"tags":[8856,8855,8854],"class_list":["post-9668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","tag-eng-mahmoud-latif-amer","tag-fleet-oil-gas-s-a","tag-zenith-energy-ltd","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/zenith.png?fit=603%2C407&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2vW","jetpack-related-posts":[{"id":8528,"url":"https:\/\/www.oilnewskenya.com\/index.php\/congo-zenith-signs-joint-venture-agreement-for-acquisition-of-second-oil-production-asset\/","url_meta":{"origin":9668,"position":0},"title":"CONGO: Zenith Signs Joint Venture Agreement For Acquisition of Second Oil Production Asset","author":"","date":"July 7, 2020","format":false,"excerpt":"Zenith Energy Ltd. has announced that it has entered into a joint venture agreement\u00a0 with a local oil & gas company in the Republic of the Congo.\u00a0 The primary objective of the Agreement is the potential acquisition of an onshore oil production licence, last producing at a rate of approximately\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\/zenith.png?fit=603%2C407&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/zenith.png?fit=603%2C407&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/zenith.png?fit=603%2C407&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":10244,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zenith-energy-makes-binding-offer-to-acquire-oil-production-development-assets-in-tunisia\/","url_meta":{"origin":9668,"position":1},"title":"Zenith Energy Makes Binding Offer To Acquire Oil Production & Development Assets in Tunisia","author":"","date":"April 21, 2021","format":false,"excerpt":"Zenith Energy \u00a0has made a binding offer\u00a0 to wholly acquire a company holding a 100% interest in two hydrocarbons production and development concessions in Tunisia which has now been accepted. Terms The Offer is represented by a mix of cash payments and assumption of debt by Zenith for a total\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\/zenith.png?fit=603%2C407&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/zenith.png?fit=603%2C407&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/zenith.png?fit=603%2C407&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":11217,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zenith-acquires-cnaog-international-subsidiary-in-tunisia\/","url_meta":{"origin":9668,"position":2},"title":"Zenith Energy Acquires Canadian North Africa Oil & Gas Subsidiary in Tunisia","author":"","date":"November 22, 2021","format":false,"excerpt":"Zenith Energy has announced that Zenith Overseas Assets Holdings Ltd., its fully owned subsidiary, has entered into a share purchase agreement for the acquisition\u00a0of a\u00a0100 percent interest\u00a0in the\u00a0issued, allotted, outstanding and fully paid-up share capital of Canadian North Africa Oil & Gas Ltd. (CNAOG) (previously named CNPC International (Tunisia) Ltd),\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 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the El Bibane and Robbana Concessions","author":"","date":"May 13, 2021","format":false,"excerpt":"Zenith Energy has announced that\u00a0 Compagnie Du Desert Ltd, its fully owned subsidiary, has now\u00a0completed the acquisition\u00a0of a 100 percent interest in the fully owned subsidiary of Candax Energy Limited\u00a0 in Barbados, Ecumed Petroleum Tunisia Ltd (EPT), which holds a 100% interest in the El Bibane and Robbana concessions in\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\/2021\/03\/ECUMED-TUNISIA.jpg?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/ECUMED-TUNISIA.jpg?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, 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