Zenith loses Tilapia licence
Zenith Energy is no longer the operator of the Tilapia licence in Congo Brazzaville, the company has said.
The licence expired on July 18. The company had hoped to continue operations on Tilapia, but has abandoned this.
Zenith has established a local company, Zenith Energy Congo. Creating this company should allow it to receive a new 25-year licence for the field, which would be known as Tilapia II.
The Congolese Ministry of Hydrocarbons had asked Zenith to create a local unit for the licence, the company said. Zenith said it planned to operate Zenith Congo in parallel to its other subsidiary in the country, Anglo African Oil and Gas Congo (AAOG Congo).
Zenith bought AAOG Congo in April for £200,000. State-owned Société Nationale des Pétroles du Congo (SNPC) owes AAOG Congo around $5.3 million.
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