Key Company Milestones
2008
- Signs new PSC with the Republic of Cameroon on the Iroko exploration license area. Addax Petroleum has a 100% interest and is the operator
Read more » - TT-09 in the Taq Taq field flow tests at an aggregate rate of 16,170 bbl/d
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2007
- Registers the Addax Petroleum Foundation in Geneva, Switzerland
- APC wins the DuPont Safety Award for the category "Cultural Evolution" for the HSSE project entitled "Redefining Stability"
Read more » - Agrees to acquire a 40% working interest in JDZ Block 1
Read more » - TT-06 in the Taq Taq field flow tests at an aggregate rate of 18,900 bbl/d
Read more » - Begins trading on the Main Market of the London Stock Exchange (LSE)
- Agrees to acquire a 50% interest in the Epaemeno license area in Gabon from BowLeven PLC
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2006
- Addax Petroleum lists its shares on the Toronto Stock Exchange (TSX)
- Signs three new PSCs on JDZ Blocks 2, 3 and 4
- Increases participating interest in JDZ Block 4 to 38.3%
- Addax Petroleum's daily oil production reaches a level in excess of 85,000 bbl/d
- Spuds first appraisal well in the Taq Taq field
- Acquies of Pan-Ocean Energy business in Gabon
- Signs new PSC with Starcrest and NNPC on OPL291 deepwater offshore Nigeria. Addax Petroleum has a 72.5% participating interest and is the operator
- Increases equity position in the Taq Taq field to 45%
- Commissionsof new production and export system from the Maghena property, onshore Gabon
2005
- Produces first oil from the Okwori field
- Implements early production scheme for the Nda field
- Addax Petroleum’s production reaches 75,000 bbl/d
- Signs a participation agreement in November with ERHC Energy Inc. to acquire 33.3% participating interest in JDZ Block 4 of the Joint development Zone of Nigeria and São Tomé & Principe (JDZ). Operatorship of Block 4
- Signs Farm-In-Agreement with Genel Enerji on the Taq Taq field, Kurdistan Region of Iraq
2004
- Completes farm-in to the Kiarsseny permit, offshore Gabon
- Discovers the Nda field in OPL90: 26 million barrels reserves (proved + probable)
- Develops the Okwori, Oron West and North Oron fields
2003
- Discovers and confirms Oron West and North Oron fields in OML123: 37 million barrels reserves
- Approves Okwori FDP in OPL90
- Launches onshore drilling campaign in OML124
2002
- Addax Petroleum’s production reaches 40,000 bbl/d
- Signs Ngosso Concession Agreement in Cameroon
2001
- Discovers Adanga South in OML123: 43 million barrels reserves (proved + probable)
- Addax Petroleum sells its Ivory Coast assets
2000
- Launches second drilling campaign in OML123 and discovers Ebughu Northeast: 26 million barrels reserves
1999
- Addax Petroleum launches first drilling campaign in OML123
1998
- Signs two new PSCs on Oil Mining License (OML) 123/124 and Oil Mining License (OML) 126/137 (former OPL90/225) with the Nigerian National Petroleum Corporation (NNPC) in Nigeria
- Addax Petroleum’s average annual production reaches 8,800 barrels per day (bbl/d)
1997
- Submits Espoir Field Development Plan (FDP) in Ivory Coast
1995
- Signs CI-26 Production Sharing Contract (PSC) in Ivory Coast
1994
- The Addax & Oryx Group Ltd. founds Addax Petroleum