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The declaration of a bidding round for marginal fields in June 2020, which is the first since 2001, offers an opportunity to the keenest companies to potentially excel in oil production and exploration in Nigeria. Oil and gas producer, Zenith Energy Ltd is one the bidders on the marginal field opening of 2020 in Nigeria.
Zenith Energy is in negotiation for a marginal field among the 57 now in a pre-qualification phase after bidding.
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Submission of the technical and commercial bid had closed in August. DPR acknowledges approximately 600 bids according to Mr Auwalu Sarki, the Director of the DPR.
Marginal Field 2020
Marginal Fields are oil fields previously discovered but have gone untended for a period of at least 10 years from first discovery. According to the DPR, the opening spans through various oil discoveries – onshore, swamp and shallow-offshore.
CEO, Zenith Energy Ltd, Andrea Cattaneo, said Zenith has had ambitions to establish a presence in Nigeria for years.
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He also noted that there are specific assets in the 2020 class of the marginal field in Nigeria that appeals to Zenith especially as it regards to compatibility to Zenith’s development objectives.
According to the CEO, Zenith’s expectations are for the DPR to potentially award it a marginal field within 6 months of bid submission.
Zenith Energy is a producer of natural gas, condensate and electricity in Italy, but has a focus on Africa. It possesses exploration and development assets in the Republic of the Congo and Tunisia. The company lists the London Stock Exchange Main Market securities (ZEN).
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