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'''INTRODUCTION''' |
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Created in 1994, Addax Petroleum is -since August 2009- 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 founded in 1994 upon leading petroleum industry expertise and a deep-rooted understanding and respect for African cultures. Over the years, Addax Petroleum has evolved from a young pioneer into an established international oil and gas, exploration and production company focused on Africa, the Middle East and the North Sea. |
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'''CHRONOLOGY''' |
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'''1994''': '''Addax Petroleum founded''' |
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'''1998''': Company average production of 8,800 bopd |
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'''1999''': First drilling campaign in OML 123, offshore Nigeria |
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'''2000''': OML 123 Ebuguu Northeast discovery, offshore Nigeria |
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'''2001''': OML 123 Adanga South discovery, offshore Nigeria |
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'''2002''': Company average production of 40,000 bopd |
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Ngosso Concession Agreement [http://www.offshore-mag.com/articles/print/volume-63/issue-10/news/addax-expanding-extending-production-from-marginal-nigerian-fields.html] signed, offshore Cameroon |
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'''2003''': OML 123 Oron West & North discoveries, offshore Nigeria |
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OML 124 drilling campaign, onshore Nigeria |
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'''2005''': Company average production of 75,000 bopd |
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First Oil in OPL90 (OML 126) Okwori field, offshore Nigeria |
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3 PSCs signed inthe Nigeria/São Tomé & Principe Joint Development Zone (JDZ) |
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Farm-in Agreement [http://www.genelenergy.com/about-us/history.aspx] signed on Taq Taq field, Kurdistan Region of Iraq (KRI) |
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'''2006''': Listing on the Toronto Stock Exchange (TSX) |
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Acquisition of Pan Ocean Energy's assets, onshore and offshore Gabon |
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'''2007''': Company average production of 126,000 bopd |
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Addax Petroleum Foundation established |
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Listing [http://www.londonstockexchange.com/companies-and-advisors/news-events/welcome/24-05-2007-addaxpetroleumtomainmarket.htm] on the London Stock Exchange (LSE) |
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'''2008''': PSC on Iroko licence signed, offshore Cameroon |
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'''2009: Acquisition [http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aIRoJNEX00t8] of Addax Petroleum by the [[Sinopec]] Group''' |
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First exports of crude from Taq Taq field, KRI |
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'''2011''': Company average production of 140,000 bopd |
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Acquisition [http://www.chinadaily.com.cn/bizchina/2011-11/04/content_14038231.htm] of Shell's upstream assets, offshore Cameroon |
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Sinopec-Addax Petroleum Foundation established |
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'''2012''': Creation of Talisman-Sinopec Energy UK Ltd joint venture company [http://www.bbc.co.uk/news/uk-scotland-scotland-business-20759974] |
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Acquisition [http://www.bloomberg.com/news/2012-11-19/total-sells-nigeria-oil-field-to-sinopec-for-2-5-billion.html] of Total's interest in OML 138, deep-offshore Nigeria |
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Opening of Houston office, USA |
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'''CONTINUOUS PRODUCTION GROWTH''' |
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The Company's average daily oil production for 2011 was 140,000 bbl/d. Year-to-date average daily oil production as of Q3 2012 was 167,000 bbl/d (this figure does not take the Talisman-Sinopec Energy UK nor the OML 138 production figures into account). |
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As part of its "Vision 500", Addax Petroleum aims to reach an average daily production of 500,000 barrels of oil by 2015. |
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Addax Petroleum is currently the 2nd largest oil prioducer in Cameroon, the 4th largest in Gabon and the 5th largest in Nigeria. |
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Our TTOPCO Joint Venture company (together with Genel Energy)is the largest oil producer in Iraqi Kurdistan, while the newly created Talisman-Sinopec Energy UK Ltd Joint Venture company (in which we hold 49%) is the 4th largest UK oil producer (2011 figures) with an output of approximately 70,000 bopd. |
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'''ASSET BASE''' |
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Addax Petroleum has a high quality asset base consisting of a number of onshore and offshore exploration, development and producing fields in Nigeria, Gabon, Cameroon and the Kurdistan Region of Iraq, as well as the UK North Sea's Continental Shelf. |
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'''CORPORATE CULTURE''' |
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Addax Petroleum's motto is "Each step makes a difference and difference is our strength". |
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The company motto reflects the fact that Addax Petroleum puts strong emphasis on cross-cultural management, as the company brings together employees from many different cultural backgrounds under Chinese management. |
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'''LINKS TO ADDAX PETROLEUM WEBSITES''' |
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Addax Petroleum corporate website: [http://www.addaxpetroleum.com www.addaxpetroleum.com] |
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Sinopec-Addax Petroleum Foundation: [http://www.addhopefoundation.org www.addhopefoundation.org] |
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[[File:ADDAX logo|72 KBpx|framed|default|Addax Petroleum logo]] |
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References: {{reflist}} |