Zenith Energy Ltd – Oil and gas company focused on assets in Africa and Italy – Says output from Robbana and El Bibane concessions in Tunisia has been irregular due to salary payment delays resulting from non-payment of past production as well as “unexplained obstructions in facilitating crude oil liftings from the Tunisian authorities”.
It said it is working to ensure full payment of salaries and expects to resume full production by August 19 at combined rate of 90 barrels of oil per day, according to Morningstar website.
Zenith, which reported 11,500 barrels of crude oil in stock, also confirmed international lifting of crude oil to take place by end of October.
Chief Executive Officer Andrea Cattaneo comments: “The company, its shareholders and employees have continued to suffer damage because of the arbitrary behaviour of the Tunisian authorities. Notwithstanding the great difficulties caused by the various arbitrary obstructions, we have sought in good faith to make every reasonable effort to continue operating the Robbana and El Bibane concessions in full compliance with our obligations.”
He added “We shall apply our best endeavors to complete the international crude lifting on or before October 2024, not long before the expected publication of the decision for the [international criminal court] arbitration initiated against [Entreprise Tunisienne d’Activites Petrolieres] for non-payment of oil production in respect of other assets held by the Company in Tunisia,” according to the same source.
