News
Nigeria – China Petrochemical Corporation (“Sinopec Group”) is in the final stages of acquiring Total’s interest in OML 138
China Petrochemical Corporation (“Sinopec Group”), is in the final stages of acquiring Total E&P Nigeria Ltd.’s 20% share in the OML 138 PSC, offshore Nigeria, which will be managed through its wholly owned subsidiary Addax Petroleum.
Other partners in the OML 138 PSC include Chevron Petroleum Nigeria Ltd. (30%), Esso E&P Nigeria (Offshore East) Ltd. (30%) and Nexen Petroleum Nigeria Ltd. (20%). Nigerian National Petroleum Corporation (NNPC) is the OML 138 licence holder.
Cameroon – Discovery of Oil and Gas in Padouk-1X Well, Iroko Block
The Executive General Manager (EGM) of the National Hydrocarbons Corporation (SNH), Mr Adolphe MOUDIKI and the Chief Executive Officer (CEO) of Addax Petroleum Corporation (Addax Petroleum), Mr Yi ZHANG, are pleased to announce to the national and international community, the discovery made at the Padouk-1X exploration well, drilled in the offshore Iroko Block, located in the Rio Del Rey Basin, Cameroon.
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