Addax Petroleum is an international oil and gas exploration and production company focused on Africa and the Middle East. The Company has a high quality asset base consisting of a number of producing properties in Nigeria and Gabon, and exploration and development properties in West Africa and the Kurdistan Region of Iraq.
Effective August 2009, Addax Petroleum is a subsidiary of China Petrochemical Corporation (Sinopec Group), one of the largest oil and gas producers in China, the biggest oil refiner in Asia, and the third largest worldwide.
The Company’s growth was achieved by acquiring underdeveloped properties in established basins and has increased its production by utilizing advanced and proven technologies. Its demonstrated operational and technical expertise, combined with its reputation and strong community relationships throughout Africa and the Middle East make Addax Petroleum well positioned to continue to grow its reserves and production. The Company employs over 900 people of which more than 300 are in Nigeria.
Addax Petroleum aims to create value for its shareholders and to contribute to the future of its host countries through successful exploration, development and production of oil and gas resources and by growing its business through re-investment and strategic acquisitions in West Africa and selected countries in the Middle East.