Zenith Energy has announced a conditional sale and purchase agreement with CNPC International (Tunisia) Ltd for the acquisition of a working interest in the North Kairouan permit and the Sidi El Kilani concession, which contains the Sidi El Kilani oilfield, Oilfield Technology reported.
The consideration payable by Zenith under the terms of the agreement is US$300 000. Upon completion of the acquisition, the company’s working interest in the Sidi El Kilani oilfield will equate to the daily production of approximately 280 BPD, the same source said.
The acquisition is Zenith’s second acquisition in relation to the Sidi El Kilani concession and enlarges the company’s total conditional interest in the acquisition to 45%. On 20 April, Zenith announced a conditional sale and purchase agreement to acquire the working interest of KUFPEC (Tunisia) Limited.