Zenith Energy Acquires AAOG subsidiary and Tilapia Field Stake
Canadian oil and gas company Zenith Energy has completed its acquisition of Anglo African Oil & Gas. Through the purchase, Zenith Energy has acquired 100% of Anglo African Oil & Gas Congo, which holds a 56% majority stake of the Tilapia oilfield, while Congo’s state-owned oil company Société Nationales des Pétroles Congolais holds the remaining share.
The oilfield is located nearly 1.8Km offshore Congo and has been in production since 2007.
“I am delighted to have now fully completed the acquisition of Tilapia, especially under the recently renegotiated highly favorable terms. We have obtained exceptional value for Zenith shareholders, and I am excited about our potentially transformational development opportunities in the Republic of the Congo at Tilapia,” says Andrea Cattaneo, CEO of Zenith Energy.
The company’s technical team is making the required operational preparations to launch planned drilling activities in well TLP-103C at the Tilapia oilfield.