Page 19 - AfrOil Week 24

AfrOil NEWS IN BRIEF AfrOil

Tunisia: Zenith Energy international energy firms, international energy
agencies and industrial players. It is imperative
makes payment to KUFPEC that this broad range of players find a reliable and
frequent forum for meeting, discussing, innovat-
for stakes in Sidi El Kilani ing and closing deals,” says Chester.
Workshops, training and certification pro-
and North Kairouan grammes for local businesses and entrepreneurs
will be a vital component of the event and will
Zenith Energy has announced that it has made be held on March 10. AOP will work with all
payment for a total of US$250,000 to Kuwait actors in the Mozambican gas and power sectors,
Foreign Petroleum Exploration Co. (KUFPEC), across government and private sector, to define
a subsidiary of the State of Kuwait’s national oil opportunities and help new and existing inves-
company, in relation to the acquisition of a 22.5% tors make headway in the market.
working interest in the North Kairouan permit Africa Oil & Power, June 11 2020
and the Sidi El Kilani Concession, which con-
tains the Sidi El Kilani oilfield. Local enterprises
As publicly announced on April 20, 2020, the HUMAN RESOURCES
total consideration payable by Zenith in relation to lead at Mozambique
to the Tunisian Acquisition is US$500,000. African Energy Chamber
Under the terms of the conditional sale and Gas and Power event
purchase agreement (SPA), first announced to Calls on APPO member
the market on April 20, 2020, signed between in March 2021
Zenith Energy Netherlands, a recently incorpo- countries to take action
rated fully owned subsidiary of the Company, Africa Oil & Power announces the launch of the
and KUFPEC (Tunisia), a 100% subsidiary of Mozambique Gas & Power 2021 event, sched- on supporting oil sector
KUFPEC, KUFPEC’s entitlement of oil pro- uled for March 2021.
duced from SLK since the date of signing of the Africa Oil & Power will work closely with Ahead of the meeting of the African Petroleum
SPA will belong to Zenith Netherlands. local partners and the Mozambican private sec- Producers Organisation (APPO) this week, the
It is expected that the production revenue tor to tell the story of Mozambique’s rich future African Energy Chamber is urging its member
generated since the date of signing of the SPA as an LNG player. countries to consider implementing its Com-
will be sufficient to fully satisfy the second and The event will offer training and workshops monsense Energy Agenda and Guidelines for
final Consideration payment to be made by the to SMEs entering the gas and power sector. It the Movement and Safety of Oil Workers.
Company to the Seller for the Tunisian Acqui- will gather all stakeholders and potential inves- While the former includes key measures for a
sition by October 2020. Zenith does not there- tors with the aim of promoting broad based eco- short- and medium-term recovery of the sector,
fore expect to raise additional capital to fund the nomic development through energy. the latter includes immediate actions and initia-
Tunisian Acquisition. Africa Oil & Power (AOP), Africa’s energy tives that, if taken, could ensure that the year is
Completion of the Tunisian Acquisition investment platform, is proud to announce that not entirely lost for oil and gas operations across
remains conditional on approval being granted it will host the first ever Mozambique Gas & the continent.
by the Comité Consultatif des Hydrocarbures of Power Conference & Exhibition, on March 8-9, By taking swift action to allow the movement
the Republic of Tunisia in respect of the transfer 2021, in Maputo. of oil workers and their safety, African countries
of the Seller’s right, title and interest in and under Under the theme “Leveraging LNG: Building can ensure that oil and gas operations continue
the Tunisian Acquisition to Zenith Netherlands. A Prosperous Mozambique,” Mozambique Gas safely and that the impact on exploration and
Andrea Cattaneo, Chief Executive Officer, & Power 2021 will focus on investment, down- production is minimised.
commented: “We are delighted with the favour- stream diversification, local capacity building As stated within the Chamber’s Com-
able terms Zenith has secured in relation to and SMEs, and empowering women through mon-sense Energy Agenda, an adjustment of
the Tunisian Acquisition, and we look forward the global Equalby30 initiative, as well as how work programmes is a major step that producing
with enthusiasm to beginning activities at SLK to mitigate the challenges ahead, as the nation countries should be taking immediately to give
in partnership with CNPC and the Tunisian aims to be one of the top 10 producers of LNG explorers and producers the space to breathe and
state oil company, Entreprise Tunisienne d’Ac- worldwide. plan for a strong recovery in 2021.
tivités Pétrolières (ETAP). The Company is also The event will be held in partnership with the “Unless African countries engage with oper-
actively exploring additional onshore oil pro- African Energy Chamber and Attitude HR. ators and investors and let them readjust their
duction opportunities in the Republic of Tunisia, “At AOP, we strive to tell the African energy work programmes, the only solution left for
a safe, democratic jurisdiction with a long-es- story and attract investment into the energy sec- companies will be to declare force majeure or
tablished history of successful oil and gas pro- tor. We have gathered industry leaders in Afri- suspend any activity on their block,” declared
duction activities for independent companies can countries like South Sudan, Angola, South NJ Ayuk, Executive Chairman at the African
such as Zenith.As is clear, we are systematically Africa and Equatorial Guinea, and in 2021 we Energy Chamber.
executing our development strategy in Africa will bring global investors and policymakers “Work programmes adjustments is a major
across a number of opportunities by diligently in oil and gas and power to Mozambique,” says demand of the industry at the moment and key
deploying our financial resources to maximise James Chester, Acting CEO of AOP. responsibilities need to be waived so exploratory
the enrichment of our portfolio at a time of great “This endeavour requires close co-opera- and development drilling can only be deferred
opportunity.’ tion and co-ordination among local businesses, and not suspended or cancelled,” he added.
Zenith Energy, June 11 2020 national governments, financial institutions, African Energy Chamber, June 15 2020

Week 24 17•June•2020 www. NEWSBASE .com P19