The Nigerian National Petroleum Company Limited (NNPCL), on Tuesday, announced it has taken over assets owned by Addax Petroleum.
The move followed the termination of the Production Sharing Contract (PSC) relationship between both organisations.
The NNPCL in a tweet said:
“After fulfilling closing obligations, @nnpclimited and Addax Petroleum Development (Nigeria) Ltd today amicably terminated their 24-Year Production Sharing Contract (PSC) relationship.”
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