Addax Petroleum was established in 1994 and since August 2009 has been a subsidiary of the Sinopec Group one of the largest oil and gas producers in China, the biggest oil refiner in Asia, and the third largest worldwide. Addax Petroleum was an international gas and oil production and exploration company mainly focused on the Middle East, the North, and Africa. Since it was established, the company has become one of the largest oil producers in West Africa.

Addax Petroleum Development Company

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Addax Petroleum began operations in Nigeria in 1998 by signing two Production Sharing Contracts (PSCs) with the Nigerian National Petroleum Corporation (NNPC).

Addax Petroleum’s producing assets in Nigeria include 11 field complexes with around 80 production wells in concession OML123, 2 fields with 15 producing wells in concession OML124 and 2 fields with 17 production wells in concession OML126.

Oil Blocks, Producing Fields, Gas & Power
  • OML123, OML124 (Operator, 100%)
  • OML126  (Operator, 100%)
  • OML137  (Operator, 100%)
  • Okwok field (Participating interest, JV with Oriental).

On the 31 January 2023, the four major oil mining blocks associated with Addax’s production sharing contract (PSC) in Nigeria were formally acquired by The Nigerian National Petroleum Corporation (NNPC) Limited. The acquisition included an exit agreement, transfer settlement, and agreement that Addax will cease to retain the PSC contract for its four major oil mining leases in Nigeria.

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