NNPC takes over Addax Petroleum’s PSC assets
The Nigerian National Petroleum Company Limited (NNPCL), on Tuesday, announced it has taken over assets owned by Addax Petroleum.
The move followed the termination of the Production Sharing Contract (PSC) relationship between both organisations.
The NNPCL in a tweet said:
“After fulfilling closing obligations, @nnpclimited and Addax Petroleum Development (Nigeria) Ltd today amicably terminated their 24-Year Production Sharing Contract (PSC) relationship.”
“GCEO @nnpclimited Mallam @MKKyari and Mr. Yonghong Chen (Outgoing MD Addax) signed the closing documents at the #NNPCTowers on behalf of the two parties, to symbolise the amicable termination of the relationship.”
Details shortly…
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The Nigerian National Petroleum Company Limited (NNPCL), on Tuesday, announced it has taken over assets owned by Addax Petroleum.
The move followed the termination of the Production Sharing Contract (PSC) relationship between both organisations.
The NNPCL in a tweet said:
“After fulfilling closing obligations, @nnpclimited and Addax Petroleum Development (Nigeria) Ltd today amicably terminated their 24-Year Production Sharing Contract (PSC) relationship.”
“GCEO @nnpclimited Mallam @MKKyari and Mr. Yonghong Chen (Outgoing MD Addax) signed the closing documents at the #NNPCTowers on behalf of the two parties, to symbolise the amicable termination of the relationship.”
Details shortly…
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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