NNPC appoints Jajere as Antan MD to manage Addax after takeover

Antan Producing Limited, a fully owned subsidiary of the Nigerian National Petroleum Company (NNPC) Limited has appointed Sagiru Jajere as its managing director, to manage four oil blocs taken over from Addax Petroleum.

Ripples Nigeria on Tuesday reported that NNPC Ltd announced it had terminated its production-sharing contract (PSC) with Addax Petroleum Development (Nigeria).

This development that led to the taking over of four oil blocs such as Oil Mining Lease (OML) 123, OML 124, OML 126 and OML 137.

“After fulfilling closing obligations, NNPC Limited and Addax Petroleum Development (Nigeria) Limited today amicably terminated their 24-Year Production Sharing Contract (PSC) relationship,” the oil firm said on its official Twitter page on Tuesday.

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This development means Antan Producing Limited will oversee the smooth running of the oil blocs to achieve optimal production.

“As managing director, Jajere is definitely the kind of technocrat needed to steer this new ship called Antan Producing Limited and lead the team to perform efficiently and profitably and ultimately, increase production and revenue to stakeholders,” a statement from the company said on Tuesday.

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