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Saturday, September 01, 2007 11:13:40 AM
"Thereafter, he announced the commencement of the drilling of the field during the second quarter of the year 2008. Addax Petroleum, he said, had entered into an agreement with Aban Abraham Pte Limited, a wholly owned subsidiary of Aban Offshore Limited for the provision of the Aban Abraham drillship to commence the drilling operations as early as he stated.
“I am delighted that Addax Petroleum has secured the necessary drilling capability on competitive terms. This contract will enable us to advance our plans to demonstrate the considerable value in our highly prospective Gulf of Guinea deep water exploration portfolio which we have assembled throughout 2006. Our contract with Aban will enable us complete an extensive exploration and appraisal programme which I believe has the potential to realise considerable value for Addax Petroleum, its shareholders and stakeholders,.” he said."
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