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Zenith Energy completes handover of Azerbaijan assets to SOCAR

Published by
Oilfield Technology,


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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