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Addax Petroleum has never been able to get anywhere close to that production figure. Addax Petroleum is currently the 2nd largest oil producer in Cameroon, the 4th largest in Gabon. Addax Petroleum used to be the 5th largest in Nigeria. The TTOPCO Joint Venture company (together with Genel Energy) was the largest oil producer in Iraqi Kurdistan.
Owel–Linkso Group obtained approval from the Nigerian National Petroleum Corporation to progress the project in July 2010. The company had earlier signed a Heads of Agreement with Addax Petroleum Development (Nigeria) Limited, APDNL, in 2004, to develop and operate an LPG plant at Izombe in the OML 124 area.
Energy Inc. of the United States won the rights to these blocks and, in March 2006, the company signed a series of production-sharing agreements with the JDADA and several petroleum and gas companies, among which were Addax Energy Nigeria Limited, Addax Petroleum (Nigeria offshore 2) Limited, Addax Petroleum Resources Nigeria Limited, Sinopec ...
Total Petroleum Nigeria Limited (TPNL): A joint venture between NNPC (60%) and Elf (now Total) produced approximately 125,000 barrels per day (19,900 cubic metres per day) during 1997, both on and offshore. Elf and Mobil are in dispute over operational control of an offshore field with a production capacity of 90,000 barrels per day (14,000 ...
Nigeria National Petroleum: Oil and gas 9,706 1,877 2 Nigeria Liquefied Natural Gas: Oil and gas 6,315 ... 3 MTN Nigeria: Telecommunications 3,514 536 4 Dangote Cement: Cement 2,699 721 5 Nigerian Petroleum Development: Oil and gas 2,686 219 6 Flour Mills of Nigeria: Agroindustry 2,014 67 7 Airtel Nigeria: Telecommunications 1,503 343 8 ...
Shell Nigeria is the common name for Shell plc's Nigerian operations carried out through four subsidiaries—primarily Shell Petroleum Development Company of Nigeria Limited (SPDC). [2] Royal Dutch Shell's joint ventures account for more than 21% of Nigeria 's total petroleum production (629,000 barrels per day (100,000 m 3 /d) (bpd) in 2009).
This was the largest foreign purchase by a Chinese company. Addax was producing an average of 136,500 barrels per day. Addax was based in Geneva at the time, but the Geneva office was closed in 2017 after Sinopec agreed to pay $31.8 million to settle a Swiss bribery investigation of their operations in Nigeria.
He was chairman and CEO of Addax Petroleum until its takeover by Sinopec Group in August 2009 for US$7.3 billion. [6] [7] His new Toronto-listed oil company Oryx Petroleum held its IPO in 2013, and it is developing large oilfields in Iraqi Kurdistan. As of March 2015, his net worth was estimated at $2.1 billion. [6]