Zenith, Fleet partner for new acquisitions in Mena
DUBAI, January 13, 2021 Zenith Energy has entered into a cooperation agreement with Dubai-headquartered Fleet Oil & Gas to jointly identity and pursue oil and gas production and exploration acquisitions in the Mediterranean, the Middle East and Africa. Under the terms of the cooperation agreement, Zenith and Fleet, which has a representative office in Cairo, Egypt, will jointly identify certain potential acquisition opportunities and conduct due diligence on any transaction that is deemed to be a suitable potential acquisition. In the event a potential acquisition is mutually approved and taken forward following the completion of a satisfactory due diligence exercise, the parties have agreed to enter into a joint venture agreement to be made by way of a newly incorporated vehicle, which will be subject to a separate agreement at the time.
Zenith Energy, international oil & gas production company focused on pursuing African development opportunities announced it has entered into a cooperation agreement (CA) with Fleet Oil & Gas, a privately owned oil and gas company led by the former Egyptian Petroleum Minister, Eng. Mahmoud Latif Amer.
Fleet is headquartered in Dubai, United Arab Emirates and has a representative office in Cairo, Egypt. The purpose of the CA is to jointly identity and pursue oil and gas production and exploration acquisitions in the Mediterranean, the Middle East and Africa.
Under the terms of the CA, Zenith and Fleet (collectively, the Parties ) will jointly identify certain potential acquisition opportunities ( Potential Acquisitions ) and conduct due diligence on any transaction that is deemed to be a suitable potential acquisition. In the event a Potential Acquisition is mutually approved and taken forward following the completion of a satisfactory due diligence exercise, the Parties h