Addax plans $5bn investment in Nigeria
Published December 11, 2017

Addax Petroleum
’Femi Asu

Addax Petroleum Development (Nigeria) Limited has said it is planning a fresh investment of $3bn to $5bn in Nigeria over the coming years.

The company, in a statement on Sunday, affirmed its commitment to Nigeria, saying its future in Nigeria remained very bright.



It said it would optimise its oil and gas operations in the country and increase production from its existing assets, both onshore and offshore.

According to the statement, Addax Petroleum/NNPC Production Sharing Contract has produced over 425 million barrels of crude oil over the 19 years when it took over operatorship of Oil prospecting Licences 98/118 and OPLs 90/225, previously operated by Ashland Nigeria Oil Company from 1973 to 1998.

The company said as a contractor to and on behalf of Addax/NNPC PSC, it achieved the feat “through sustained investment in reserves and production growth activities, application of technology, and strong NNPC/DPR partnership and strong partnership with host communities.”

http://punchng.com/addax-plans-5bn-investment-in-nigeria/

Buhari sef

good development....the problem we've been having is the money this multinational coys and even the NLNG pay as tax yearly including proceeds generated from customs no one knows how this money is being spent....

our leaders have now taken another step to start milking from the innocent citizens all in the guise of taxation....

After wooing us with good news, the price of petrol keeps going high...

Dats good..

Q

Nice

Story every where

Same ol story.

GOOD

Now that the Chinese own addax

Hmmn

All this "We will" "We want to" "We plan to" statements is really tiring.

Mtchewww

Plans everytime, action speaks louder than words.

I no dey comment after e don pass first page

Ok

Wizberg12:
After wooing us with good news, the price of petrol keeps going high...

........that is what happens when we have a vision-less barawo bubu that is confused in charge of our country.


www.nairaland.com/attachments/2589504_subsidy2_jpeg57ea79bc1f8758353f00f8db1d53dbf1


www.nairaland.com/attachments/3075523_bubu_jpeg548c6e11ce99a7bdf3febf4edabed9ea

Is Kaztec still in alliance with them?

Self destruct

Humility017:
good development....the problem we've been having is the money this multinational coys and even the NLNG pay as tax yearly including proceeds generated from customs no one knows how this money is being spent....

our leaders have now taken another step to start milking from the innocent citizens all in the guise of taxation....

Those revenue are used to pay workers little is left for capital projects

166bn every month for salaries

MENTORCH:
Plans everytime, action speaks louder than words.

You should not be surprised na.
Barawo bubu is the renowned baba promise & FAIL.


www.nairaland.com/attachments/3131247_cu55se7vaaaykzj_jpeg8d3b0e22c761643e651e5d09f82d1552

Adupe!
https://informationengine./2017/12/12/see-what-ugandan-mother-pictured-feeding-her-toddler-beer/

You are treating your Contract Staff poorly. You take them as slaves. The most annoying thing there is it is the fellow Nigerians that halts the benefits that is to be given to these contract staff.
Nigeria government should look into this monster called CONTRACT STAFF or CONSULTANT. The Contract Staff work and the Regular Staff take the glory and money.

mrvitalis:
Those revenue are used to pay workers little is left for capital projects
166bn every month for salaries

Which workers?
The ones on N18,000 minimum wage?
Or the ones receiving mega millions for doing nothing in NASS, Aso Rock and state houses plus assemblies and LGAs
Please clarify after due investigation.


www.nairaland.com/attachments/2943664_wage_jpeg1488711c5349aed5f79f2e121e58b278


www.nairaland.com/attachments/2525077_nationalassebly_jpeg71d66f931a1a7ec6df0b899a793ef6b6

mrvitalis:

Those revenue are used to pay workers little is left for capital projects

166bn every month for salaries

how about the money some of this agencies generate...like FIRS, FEDERAL UNIVERSITIES, CBN, NNPC, Maritime etc....
the truth is our government officials often steal this money

Igbos will have heart attack over this, they will be green with bitterness

we need investors in other sectors like agriculture , electricity etc enough of this oil investors

Humility017:

how about the money some of this agencies generate...like FIRS, FEDERAL UNIVERSITIES, CBN, NNPC, Maritime etc....
the truth is our government officials often steal this money

What was our total revenue last year ?
You think money generated by u.i or unn can run the school a month ?

We don't generate enough revenue and that's a know fact

Compare out budget to that of Angola then you see where the problem is