The objective of Zennor Petroleum Ltd is to consistently deliver superior returns to our investors through the appraisal and development of conventional hydrocarbon reservoirs offshore North West Europe. Kerogen, Zennor’s majority shareholder made an initial commitment of US$100 million to Zennor in August 2015 to develop the Company’s existing assets and expand the portfolio by way of acquisitions, farm-ins and Licensing Rounds.
In the first two years under Kerogen ownership Zennor has made good progress, with the acquisition of interests in four producing fields in March 2016 and the successful appraisal of the Finlaggan Discovery in Q2 2016.
Further assets have been added to the portfolio in 2017. Zennor plans to create a diversified UK North Sea portfolio comprising 10,000 boepd net production, 100 mmboe 2P/2C and 200 mmboe prospective resources. To date Kerogen have invested over $100mm million of equity in the business and increased their total commitment to US$300 million. Depending on the further build out of the portfolio, Kerogen may commit additional funds during the course of their investment.