The Department of Petroleum Resources (DPR) has inaugurated a team of experts to evaluate the revoked four oil mining licenses from Addax Petroleum Exploration Nigeria Limited to a new operators- Kaztech/Slavic Consortium. The department had earlier revoked the Chinese-owned Addax’s OML 123, 124, 126 and 137 noting that the company failed to develop the licenses. Auwalu stated that the prevailing development was meant to stimulate the economy and create job opportunities for Nigerians. xHe charged the committee to evaluate the current status (As-is) of the revoked assets, including liabilities post revocation, in order to facilitate takeover of the assets by the newly appointed operators of the assets. According to him, the committee has one week to conclude the assignment.

Source: The Guardian April 22, 2021 12:56 UTC