Addax Petroleum Corporation (“Addax Petroleum”) announced today it has established a subsidiary in Houston, Texas, expanding Addax Petroleum’s worldwide presence to include the United States.
The new subsidiary, Addax Petroleum US Services Corporation (“Addax Petroleum US”), will focus on supporting E&P activities throughout the countries where Addax Petroleum operates in West Africa and the Middle East.
Addax Petroleum US has been set up in Houston as an additional centre of competence for sub-surface and surface studies, and support of conventional oil and gas, exploration and production projects. Typical activities for the subsurface will include geotechnical studies, seismic interpretation, and reservoir analysis / hydrocarbon reserves evaluation. Associated disciplines for technical work will include economic evaluation, facilities feasibility and engineering, production technology, and economics.
Mr. Yi Zhang, Chief Executive Officer of Addax Petroleum Corporation, commented: “The creation of Addax Petroleum US is aligned with our strategy to grow the Company into a major international oil producer by 2015 and an opportunity to draw in new talent from a large and experienced pool of international oil & gas professionals. With the continued development of our organisational capacities, this is an exciting time in the growth of Addax Petroleum.”