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  • Zennor’s Finlaggan Field Development Reaches Financial Close

    18 November 2018

    Zennor Petroleum has recently entered into a loan facility in relation to its Finlaggan field in the North Sea.  Finlaggan is a field with reserves of around 26mmboe of 2P gas condensate, and is currently in development with production scheduled to commence in Q4 2020.

    Financial close occurred in late October 2018, with a £170m senior facility provided by Societe Generale as mandated lead arranger, as well as London Branch to BNP Paribas, DNB (UK) Limited, Nedbank Limited, Investec Bank plc, and Barclays Bank plc.

    Operis were pleased to perform a financial model audit on behalf of Zennor Petroleum, which included a review of the model’s tax treatments.

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