Zenith Energy completes handover of Azerbaijan assets to SOCAR

Published by Nicholas Woodroof, Editor
Oilfield Technology, Thursday, 25 June 2020 16:30

Zenith Energy has announced that the handover process of the Contract Rehabilitation Area (CRA) to SOCAR in the Republic of Azerbaijan has now been successfully concluded.

As a result of the handover, Zenith has ceased all oil production operations in Azerbaijan and all field production personnel, approximately 170 employees, have been transferred to a division of SOCAR.

The company has confirmed that its Azerbaijan subsidiary has recently received a payment for oil production of approximately US$508 000 from SOCAR.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/25062020/zenith-energy-completes-handover-of-azerbaijan-assets-to-socar/

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