Addax Petroleum Ups Security Measures in Nigeria After Contractor Death

It is with deep regret that Addax Petroleum reports the death of an employee of Petrostuff Nigeria Limited, a third-party manpower service provider to Addax Petroleum, following his abduction from the Akam oil production platform in OML123. Addax Petroleum would like to extend its sympathy and sincere condolences to the family of the deceased and to Petrostuff staff over this very sad loss.

The Akam oil production platform is located approximately 20 kilometers offshore Cross River State in south-eastern corner of Nigeria. The Petrostuff employee was forcefully removed from the Akam platform at approximately 06:45 am on Tuesday, January 30, 2007 by persons from a local community. Immediately following the abduction, Addax Petroleum staff and community relations officials initiated a search and soon thereafter established contact through third parties with the assailants. Whilst negotiations were ongoing for release of the victim, Addax Petroleum and Petrostuff received information of his death and the victim's body was recovered on Thursday, February 1.

Commenting, Addax Petroleum's President and Chief Executive Officer, Jean Claude Gandur, said "We are deeply saddened by this incident and our thoughts and prayers are with the victim's family. Since commencing operations in Nigeria almost a decade ago, Addax Petroleum has established a practice to proactively build excellent relationships with the local communities and has fostered a climate of open dialogue and mutual respect. We strongly believe that this unfortunate event was an isolated act and is inconsistent with the socially responsible relationship that exists between Addax Petroleum and the local communities."

Initial enquiry suggests that this regrettable incident was misdirected towards Addax Petroleum. Full investigations into this criminal incident are underway by local and federal security and government agencies and by Addax Petroleum. Addax Petroleum has put in place additional security measures to ensure safety of its workforce, contractors and continued operations.