However, despite these positive indicators for future growth, the market remains largely untapped," said Yousef Al-Essa, CEO, Addax
Mrs Dorothy Atake, Addax
's General Manager (External and Government Affairs), made the disclosure in a statement in Lagos.
and Oryx Group was incorporated in 1987, with a focus on energy in Africa, and has evolved into a diversified investment group, known simply as AOG.
The report quotes chairman Salem Al Noaimi as saying that in light of the difficult financial position of Addax
Bank Group and the uncertainties of the market conditions, the board of directors considered a number of options for the future that best serve the interests of shareholders.
In 2013, after the Gabonese government took back an oilfield it had licensed to Addax
, alleging breach of contract, the Chinese company went to the International Court of Arbitration in Paris, seeking damages.
confirmed that it and Sinopec had filed arbitration proceedings to collect at least $5.5 billion, but declined to provide further details citing confidentiality obligations between the parties.
The module has been embedded in Geolog as Addax
Petroleum's corporate tool for pore pressure prediction.
In a filing to the Muscat Securities Market (MSM), Al Anwar said it had initiated a commercial claim at the GCC Arbitration Centre in Bahrain in September 2012 against Addax
Bank for recovery of money invested in the bank's shares by its fully-owned subsidiary, Al Anwar International Investments (II).
Several species have either become extinct in the wild or are on the brink of extinction, including the Scimitar-horned Oryx, Addax
and Dama gazelle.
Maurel and Prom - Gabon ranks fifth in terms of oil production in Gabon, behind Shell-Gabon, Total- Gabon, Perenco and Addax
Petroleum/Sinopec, with an average production of 21,998 barrels per day.