Page 16 - AfrOil Week 13 2021

AfrOil NEWS IN BRIEF AfrOil

“This contract award is a testament to Penspen’s
strong reputation and experience in Africa and
we look forward to working with Petrozim on
this exciting project”, said Neale Carter, Pen-
spen’s Executive Vice President for the Middle
East, Africa and Asia Pacific Regions. “Penspen’s
scope of work included in the project award
demonstrates our range of capabilities in the
region and beyond, as a leading provider of engi-
neering services to the energy industry.”
Originally designed by Penspen and con-
structed under its supervision, the 208-km long
Feruka-Harare pipeline network will undergo
operational modifications to ensure its transfer
ability to meet the increased demand of petro-
leum products such as diesel and gasoline.
Penspen will deliver detailed engineering and
procurement support services for the mul-
ti-product pipeline project, including the estab-
lishment of a “series-pumping” operation, as well the two companies. equivalent per day (boepd), Eni is the main
as a range of key project components at different The first of the agreements signed aims to international company operating in the country.
sites across the region. implement an ambitious programme for the Eni, March 29 2021
The exercise includes two new mainline relaunch of exploration and development activ-
pump-sets (pump, motor and variable speed ities in the Berkine basin region and provides
drive packages), piping modifications for the for the creation of a gas and crude oil develop- INVESTMENT
connection of new mainline pump-sets and ment hub through a synergy with existing MLE-
two new power transformers to supply the new CAFC installations. This agreement is part of the Zenith Energy completes
mainline pump-sets. Additionally, Penspen will process for the finalisation of a new hydrocar-
oversee piping, instrumentation and metering bon contract in the basin, under the aegis of the Ezzaouia acquisition
skid modifications as part of the project. Elec- new Algerian oil law which came into force in
trical switchgear, transformers, switchboard, dis- December 2019. Zenith Energy, the listed international oil and gas
tribution board and a stand-by diesel generator Descalzi and Hakkar also signed a Memo- production company focused on pursuing Afri-
with weatherproof enclosure and diesel tank will randum of Understanding for the development can development opportunities, has announced
also be supplied as part of the contract award. of the partnership between Eni and Sonatrach that, following its market announcement dated
Penspen has been providing engineering ser- in the new technologies sector, with a focus on March 15, 2021, Zenith Energy Africa Ltd
vice support to Petrozim for over 20 years and in renewable energy, biofuels and hydrogen. This (ZEAL), its fully owned subsidiary, has now
2012 completed the FEED, which increased the agreement aims to strengthen the cooperation completed the acquisition of a 100% interest in
capacity of the pipeline and the Harare storage already in place between the two companies in the fully owned subsidiary of Candax Energy in
facility. the technological field and continue the decar- Barbados, Ecumed Petroleum Zarzis Ltd (EPZ),
Penspen, March 25 2021 bonisation path undertaken to support the tran- which holds a 45% interest in the Tunisian
sition towards a low carbon future. onshore Ezzaouia Concession.
Eni and Sonatrach have also agreed to col- Pursuant to the terms of the SPA, ZEAL has
COMPANIES laborate in other sectors such as staff training, acquired 100% of EPZ for the aggregate amount
through the signing of an agreement that pro- of $150,000, which has now been paid, as well an
Eni, Sonatrach sign vides for cooperation between Eni Corporate additional $100,000 to be satisfied by the issue of
University and the Institut Algerien du Petrole ordinary shares in the share capital of Zenith to
agreements on co-operation for the implementation of training programmes be issued within 60 days of completion and a roy-
in the Upstream and new technologies related to alty payable and calculated as $0.35 per each bar-
in upstream, R&D and the energy transition fields. rel of hydrocarbons produced from the Ezzaouia
At the end of the meeting, Eni’s CEO thanked Concession and allocable to EPZ, with the roy-
decarbonisation arenas the PDG and the members of the Sonatrach alty not being less than an amount of $50,000 per
delegation for their constant collaboration and annum for a period of 10 years.
The CEO of Eni, Claudio Descalzi, and the Pres- relationship: “Today’s agreements represent Andrea Cattaneo, CEO of Zenith, com-
ident and General Manager of the Algerian state the commitment made by our companies to mented: “We are very pleased to have achieved
company Sonatrach, Toufik Hakkar, met March strengthen a historic partnership, in compliance successful completion of this transaction, which
25 at the Eni headquarters in San Donato Milan- with a shared strategy to accelerate the develop- gives Zenith monthly oil production revenue of
ese to take stock of common activities and sign ment of decarbonisation projects as part of our approximately $400,000. Ezzaouia has signifi-
various agreements in the exploration and pro- commitment of achieving our carbon neutrality cant unexploited potential, which we intend to
duction, research and development, decarboni- goal.” develop progressively via a combination of work-
sation and training fields. Eni has been present in Algeria since 1981 over and drilling activities to be commenced fol-
These agreements mark a further step for- and is operator in 48 mining permits. With lowing consultation with our partners in the very
ward in strengthening the partnership between an equity production of 90,000 barrels of oil near future.

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