August 20, 2018 [Shares Magazine] - Zenith Energy said it had decided to replace 4kms of line pipe across its field area in Azerbaijan by the close of 2018.
Delivery of the first batch of line pipe was expected to take place within the next 14 days, the company said, without providing a cost estimate.
The installation was expected to minimise oil loss during transportation from wells to Zenith’s oil processing and storage facility, reduce restrictions to oil flow from active production wells, and lower line pipe pressure.
The company also announced that it planned to begin the reconstruction of an oil storage tank during the month of September. It was expected that further storage tanks would undergo reconstruction work later in the year.
During the month of July, the company’s subsidiary in Azerbaijan generated revenue, gross of commissions and transportation expenses, of approximately $490k.
Zenith also said it had completed two comprehensive geological studies to optimise the selection of potential drilling locations and workover opportunities across the Muradkhanli, Jafarli and Zardab oilfields.
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