Addax Struggles with Nigeria, Grows Elsewhere - Africa’s premier report on the oil, gas and energy landscape.

Addax Struggles with Nigeria, Grows Elsewhere

Addax Petroleum remains the leading independent producer in Nigeria by net hydrocarbon production. But it has been struggling to remain the largest independent producer by operated volume. Addax’s 62,000Barrels Per Day of Oil (October 2015 figure published by NNPC) is all operated, equity and gross, compared with Seplat’s56,000BOPD (operated, gross, according to the same NNPC figures) and 25,381 BOPD(equity), which are representative averages for both companies in the figures published by the state hydrocarbon company.

Addax’s Nigerian production is about half of its 2008 output of…
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