Nigeria License Areas
License areas overview
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Addax Petroleum has driven its growth in Nigeria by acquiring oil properties deemed by others to have limited remaining production potential and using its strong in-house technical and operational expertise to grow reserves and production in a cost effective manner.
Onshore license area »
Offshore license areas »
Within Nigeria, Addax Petroleum holds the following working interests:
| License | Working interest % | Net Acres | Operator |
| Nigeria | |||
| OML123 » | 100.00% | 90,700 | Addax Petroleum |
| OML124 » | 100.00% | 74,100 | Addax Petroleum |
| OML126 » | 100.00% | 178,300 | Addax Petroleum |
| OML137 » | 100.00% | 209,500 | Addax Petroleum |
| OPL291 » | 72.50% | 230,600 | Addax Petroleum |
| Okwok » (in OML67) | 40.00% | 9,000 | Oriental |
| OPL227 » | 40.00% | 210,300 | Express |
| Total | 1,002,500 | ||
Addax Petroleum’s strategy is to build on significant business opportunities in line with the key trends of the Nigerian oil and gas industry:
- A shift of major oil company focus from near shore and onshore properties to larger scale deepwater properties
- The Nigerian government’s drive of gas monetisation in conjunction with a gas flare out target in 2008
- The Nigerian government’s encouragement to an increasing participation of indigenous companies in the oil sector