• About
  • Advertise
  • Contact
Thursday, October 23, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Oil & Gas

NNPC Takes Over Four Oil Wells From Addax

Vital News by Vital News
January 31, 2023
in Oil & Gas
0
Oil Production Rises 14.6pct To 1.41mb/d In November – NUPRC
Share on FacebookShare on Twitter

Abuja – The Nigerian National Petroleum Company Ltd (NNPC) says it has taken over the operation of Production Sharing Contract (PSC) for four oil wells from Addax Petroleum Development Nigeria Ltd.

In a statement on Tuesday, NNPC said it amicably terminated Addax 24-year PSC relationship.

It said three months after the execution of the Addax Transfer, Settlement, and Exit Agreement (ATSEA) for the PSC oil blocks, OMLs 123/124 and 126/137, operated by Addax all closing obligations have been concluded and the assets have been transferred to the Concessionaire, NNPC Limited.

“Consequently, NNPC has taken necessary steps to take over the assets and oversee a clean, amicable, and speedy exit for Addax Petroleum Ltd., operate the asset on interim basis as a first step and subsequently appoint a competent replacement PSC contractor while NNPC continues to remain the Concessionaire,” it noted.

While the TSEA was signed in November 2022, the transfer of the oil wells to NNPC took place on Tuesday January 31, 2023.

RelatedStories

Malabu Oil & Gas Limited Drags CAC To Court Over Alleged Illegal Deregistration

Niger Delta Peace Gains Momentum as Lokpobiri Backs Tompolo’s Initiatives

PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence

NEPZA Says Strikes Not Allowed In Free Trade Zones

NNPC Ltd has also appointed the Transition Team lead, Mr Sagiru Jajere, as the Managing Director of Antan Producing Ltd.

Addax and NNPC had a long running battle over the operation before the latest amicable settlement.

Tags: AddaxNNPCOilwells
Previous Post

Tinubu/Shettima Will Ensure Better, Secured Nigeria – North-Central APC-PCC Parliamentarians Committee

Next Post

Consistency, Resilience key To Business Success – Expert

Vital News

Vital News

RelatedStories

Malabu Oil & Gas Limited Drags CAC To Court Over Alleged Illegal Deregistration
Judiciary

Malabu Oil & Gas Limited Drags CAC To Court Over Alleged Illegal Deregistration

October 17, 2025
Niger Delta Peace Gains Momentum as Lokpobiri Backs Tompolo’s Initiatives
Environment

Niger Delta Peace Gains Momentum as Lokpobiri Backs Tompolo’s Initiatives

October 15, 2025
PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence
Economy

PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence

October 14, 2025
NEPZA Says Strikes Not Allowed In Free Trade Zones
Labour

NEPZA Says Strikes Not Allowed In Free Trade Zones

October 10, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Labour

False, Malicious, And Misleading, Reports That We Import Bad Fuel – Dangote Refinery

October 10, 2025
Next Post
Consistency, Resilience key To Business Success – Expert

Consistency, Resilience key To Business Success – Expert

Mammoth Crowd As APC Holds Campaign Rally In Okene

Mammoth Crowd As APC Holds Campaign Rally In Okene

I Look Forward To Peaceful Polls, Retirement, Says President Buhari

Report Of Attack On Buhari In Kano Is Fake - Presidency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Don Wants Govt To Set Up Heart Institutes

Don Wants Govt To Set Up Heart Institutes

2 years ago
World Bank Appoints Aliko Dangote To Private Sector Investment Lab

World Bank Appoints Aliko Dangote To Private Sector Investment Lab

6 months ago
Popular Sudanese Singer, Shaden Gardood Killed In Crossfire

Popular Sudanese Singer, Shaden Gardood Killed In Crossfire

2 years ago

PSN Pledges Support For Kwara Hospital Management Bureau

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

National Orthopedic Hospital Jalingo Signs MoU With Police Health Maintenance Limited

Former Kogi Senator In Trouble Over Attempts To Scuttle Appointment Of Amupitan As INEC Chairman, Action Raises Dust Among Kinsmen

Three INEC Officials Going For November 8 Anambra Governorship Election Kidnapped In Kogi

Trending

Dangote Denies Ownership Of Truck Involved In Enugu Accident
News

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

by Vital News
October 23, 2025
0

Dangote Group has refuted reports circulating on social media and in some online platforms linking it to...

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

October 23, 2025
Trailer Crushes Female University Lecturer To Death In Lokoja

Trailer Crushes Female University Lecturer To Death In Lokoja

October 23, 2025
Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

October 22, 2025
FG Cancels Independence Anniversary Parade

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

October 22, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident October 23, 2025
  • Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman October 23, 2025
  • Trailer Crushes Female University Lecturer To Death In Lokoja October 23, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In