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By Christian Moess Laursen
Zenith Energy said that it has signed a another memorandum of understanding for the potential acquisition of an oil production asset in Atyrau Region of Kazakhstan.
The Oslo and London-listed oil-and-gas company said Tuesday the asset previously produced around 200 daily oil barrels, but production is suspended.
According to the preliminary agreement, commercial terms are to be formalized by a share purchase deal on or before Nov. 30.
In the last two weeks, Zenith Energy has signed two separate similar agreements regarding potential acquisitions of two oil development assets and an oil-producing company in Kazakhstan, respectively.
“We are pleased to have signed a memorandum of understanding for the third potential acquisition opportunity we intend to evaluate in Kazakhstan,” Chief Executive Andrea Cattaneo said.
Zenith Energy said its strategy is to create a profitable, revenue generating energy production portfolio through acquisitions in the U.S. and Kazakhstan.
Write to Christian Moess Laursen at [email protected]
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