(Business in Cameroon) - Qu Bin, a Chinese citizen who was formerly technical manager for Addax Petroleum, was recently appointed chief executive officer of this Cameroonian subsidiary of Chinese oil group Sinopec. The appointment was disclosed in a legal announcement published by the company.
The new CEO replaces Français Roger Beaumont who has been overseeing the operation of Addax Petroleum since 2011. One of the urgent cases he will have to address is the negotiations for a production-sharing contract with the National Hydrocarbons Corporation SNH on the Ngosso block, on the Bakassi peninsula, Southwest Cameroon.
“Concerning the promotion of mining areas, negotiations have been initiated with Addax Petroleum Cameroon Limited for a production-sharing agreement on the Ngosso block located in the Rio Del Rey basin,” the SNH revealed in late 2020.
So, under Qu Bin’s management, Addax Petroleum could become the first oil company to explore and exploit oil and gas in Bakassi, a peninsula reputed for its oil, gas, and seafood wealth.