The subsidiary of the Chinese group SINOPEC officially closed this Tuesday, March 12, 2024.
After spending 16 years in Gabon in the oil sector with the production of 6,000 barrels/d, Addax Petroleum is closing its doors this Tuesday, March 12, 2024. In fact, everything starts from a correspondence dated January 5, 2024, where the general director of Gabon’s hydrocarbons, Ernest Ndong Nguéma calls on the subsidiary to return to the private domain of the State the permit “Dionga Irundu n°G5-118” whose allocation contract expires on March 12, 2024.
The Operation and Production Sharing Contract (CEPP) concluded in 2014 between the Gabonese State and the company is for a non-renewable period of 10 years. Once it expires, the oil sites covered by the contract return to the public domain. The assets of APOGG (Addax Petroleum oil & gas Gabon) belong to Gabon oil company (GOC), the national hydrocarbon company. The GOC has already sent employment contracts to certain Addax agents. The Gabonese company which currently produces nearly 13,000 barrels per day will see its daily production approach 70,000 barrels with the Assala fields (more than 50,000 barrels per day) and that of Dionga Irundu n°G5-118 (6000 barrels per day). barrels per day).
Regarding Addax Petroleum, management announced that the company has been authorized to initiate an economic dismissal procedure as stipulated by the labor code. The objective is to put in place a social plan to manage the issues related to this dismissal. Remember that the Addax company has existed in Gabon since 2008. And operated on the Tsiengui and Obangue and Rabi permits.
