Zenith Energy has signed a Memorandum of Understanding with Nile Services and Logistics Company (NLC), a subsidiary of Nile Petroleum Corporation, the national oil company of the Republic of South Sudan
Under the terms of the MoU, Nile SLC and Zenith will jointly pursue business opportunities involving the construction of fuel products storage tanks, pipelines, and crude oil storage tanks in South Sudan.
Zenith will provide technical, financial, and managerial expertise in the construction of fuel storage tanks, pipelines, and crude oil storage facilities, while Nile SLC will facilitate the establishment of a partnership in identifying business opportunities.
The signing follows the signing of an MoU with the Ministry of Petroleum earlier this year, since when Zenith’s technical management team has continued to strengthen local relationships in the Republic of South Sudan.
Andrea Cattaneo, chief executive officer of Zenith Energy, commented, “We are very pleased to have signed an MoU with Nile SLC, and we look forward with enthusiasm to jointly exploring opportunities in the midstream domain and beyond, specifically with regards to petroleum product trading activities. This represents a complementary enrichment of our core focus which fully remains the acquisition and successful development of oil, gas, and electricity production assets.
“It is our view that there exist many commercially attractive opportunities in South Sudan, and that it is an attractive jurisdiction for foreign investors. To this end, I am pleased to confirm that we are currently in the advanced phase of negotiating the potential acquisition of certain oil exploration and development licenses located in South Sudan.”
