Connect with us

Business

BREAKING: NNPC Takes Over Addax Petroleum’s PSC Assets

Published

3 years ago

on

Group Managing Director of NNPC Mele Kyari

BREAKING: NNPC Takes Over Addax Petroleum’s PSC Assets

China Welcomes Move As NNPC Finally Terminates Contract With Addax 1

On Tuesday, the Nigerian National Petroleum Company Limited (NNPCL) announced that it has taken over assets from Addax Petroleum.

The move followed the termination of both organizations’ Production Sharing Contract (PSC) relationship.

Read Also BREAKING: Banks Will Accept Old Naira Notes After Deadline – Emefiele

Advertisement

The NNPCL in a tweet said:
“After fulfilling closing obligations, @nnpclimited and Addax Petroleum Development (Nigeria) Ltd today amicably terminated their 24-Year Production Sharing Contract (PSC) relationship.”

“GCEO @nnpclimited Mallam @MKKyari and Mr. Yonghong Chen (Outgoing MD Addax) signed the closing documents at the #NNPCTowers on behalf of the two parties, to symbolise the amicable termination of the relationship.”

For More News Join Our WhatsApp Group With This Link Below

https://chat.whatsapp.com/HlD7kmxUzAc2lwlP7yuXzk

Advertisement
Related Topics:
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

Trending

0
Would love your thoughts, please comment.x
()
x