Zenith Energy has signed a purchase agreement contract for the order of a new workover rig with a well-established manufacturer based in Azerbaijan.
The new workover rig is designated as an A-100 truck-mounted workover rig.
The model of the new workover rig has an extensive manufacturing history in Russian and Central Asian countries and is among the most heavily used workover rig variants in the region.
Delivery is expected to take place 90 days from the signing of the contract.
The total value of the purchase agreement contract is approximately CAD$440,218 (approximately £250,933).
Andrea Cattaneo, chief executive officer of Zenith, said: "The company is committed to strongly supporting the local economy of our host country. Azerbaijan has a long and successful history of manufacturing oil production equipment and machinery. Upon delivery, the new workover rig will join the company's recently upgraded A-80 workover rig in performing field rehabilitation operations across the field."
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