Gulf Oil and Gas accountACCOUNT

Addax Signs a New Partnership with the Gabonese Republic

Source: www.gulfoilandgas.com 1/16/2014, Location: Africa

Share |
Addax Petroleum is pleased to announce the successful conclusion of its negotiations with the Gabonese Republic, which marks the beginning of a new mutually beneficial partnership for the next ten years. As a result, the Gabonese Republic has signed with Addax Petroleum a new Production Sharing Contract for the three oil fields Tsiengui, Obangue and Autour.

This contract constitutes an innovation in the Oil & Gas industry in Gabon with clear financial and technical objectives in order to maximise the return for the Gabonese Republic in the exploitation of its natural resources.

“I am pleased to confirm that our efforts to resolve amicably all existing issues and disputes have borne fruit and resulted in the completion of our negotiations with the Gabonese Government” said Yi Zhang, CEO of Addax Petroleum. “This successful outcome is the result of constructive discussions between both parties and reflects the historic friendship between Gabon and China. I would like to thank the Gabonese Republic for its commitment in leading these discussions in the interest of all”.

“This is a very positive development in the beginning of this new year”, Mr Zhang added, “and I have given instructions to my management team in Gabon in order to resume all operations in a safe and efficient manner as soon as possible and ensure this new partnership will be a success.”

This new partnership establishes a renewed platform for growth in Gabon for Addax Petroleum and Sinopec. Addax Petroleum plans to continue its mission as an economic and social actor involved in the long-term in Gabon, in full transparency and in compliance with Gabonese laws and regulations.

For more information about related Opportunities and Key Players visit West Africa Projects

Acquisitions and Divestitures News in Gabon >>

Indonesia >>  6/13/2018 - Ramba Energy has announced the approval from SKK Migas to the previously announced farmout of a 15% participating interest in the Lemang PSC to Mandal...
United States >>  6/12/2018 - Byron Energy Limited (Byron) (BYE) is pleased to announce that Byron Energy Inc., a wholly owned subsidiary of the Company, has been advised by the Bu...

Algeria >>  6/11/2018 - Sonatrach, Total, Repsol and Alnaft (the National Agency for the Valorisation of Hydrocarbon Resources), have signed a new concession contract for a p...
Brazil >>  6/6/2018 - Equinor and its partners in the Carcara North block, ExxonMobil and Galp, have closed their transactions in neighbouring block BM-S-8 as announced in ...

Morocco >>  6/5/2018 - Sound Energy, the Moroccan focused upstream gas company, has announced receipt of Ministerial approval of the Sidi Moktar Onshore Petroleum Agreement ...
Argentina >>  6/4/2018 - Qatar Petroleum entered into an agreement with US Supermajor, ExxonMobil, to become a 30% equity holder in two ExxonMobil affiliates in Argentina that...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gabon Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Gabon >>

More News

 

Oil & Gas Companies in Gabon >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.