Antan Producing Limited, a fully owned subsidiary of the Nigerian National Petroleum Company (NNPC) Limited has appointed Sagiru Jareje as its managing director, to manage four oil blocs taken over from Addax Petroleum.
On Tuesday, NNPC Ltd announced it has terminated its production-sharing contract (PSC) with Addax Petroleum Development (Nigeria), a 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.
This development means Antan Producing Limited will oversee the smooth running of the oil bloc to achieve optimal production.
Findings by BusinessDay showed Jajere was born and brought up in Potiskum town of Yobe State. He started his early education at Damboa Primary School, Potiskum and from there he proceeded to government science secondary school, Potiskum, in Yobe State.
Read also: NNPC takes over Addax petroleum assets, terminates production sharing contract
After completing his secondary education, he proceeded to the University of Maiduguri, Borno State, where he got his BSc in Civil Engineering. He also did his National Youth Service Corps (NYSC) at Osun State.
Upon completion of his NYSC, he worked briefly with the Federal Ministry of Works and Housing, Lagos, as an executive engineer and later moved to National Engineering and Technical Company Limited (NETCO) a subsidiary of the NNPC. After 13 years, he moved to the corporate headquarters to support the Local Content Drive under the GMD’s office.
Following the signing into law of the Nigerian Content Act in 2010, he was selected to form the implementation committee that successfully produced the implementation document for the NCDMB and was eventually seconded as one of the pioneer staff that set up the board.
“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.
