Addax Petroleum has driven its growth in Nigeria by acquiring oil properties deemed by others to have limited remaining production potential and using its strong in-house technical and operational expertise to grow reserves and production in a cost effective manner. Addax Petroleum’s strategy is to build on significant business opportunities in line with the key trends of the Nigerian oil and gas industry:
A shift of major oil company focus from near shore and onshore properties to larger scale deepwater properties
The Nigerian government’s drive of gas monetisation in conjunction with a gas flare out target in 2008
The Nigerian government’s encouragement to an increasing participation of indigenous companies in the oil sector
