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Breaking News | Breaking News FG revokes Addax Petroleum licences, re awards it to Emeka Offor's Kaztec Engineering, one other


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Nigeria’s oil and gas regulator, Department of Petroleum Resources, DPR has revoked four licenses held by Addax Petroleum, a highly unusual move for licenses with producing assets.
The head of the agency, Sarki Auwalu said in a post on the DPR website that Addax was not developing the assets sufficiently, adding that the licenses had already been re-awarded to the operator’s former contractor, Kaztec Engineering Limited and Salvic Petroleum Resources Limited.
Kaztec Engineering is owned by businessman, Emeka Offor via his Chrome Group of Companies.
Addax is owned by China’s Sinopec Group. Of the four revoked assets, OML 123, OML 124, OML 126 and OML 137, three have producing fields, Addax’s website says. ....

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