[2] Addax Petroleum was an international gas and oil production and exploration company mainly focused on the Middle East, the North Sea, and Africa.

Addax's initial steps in the upstream business was the acquisition of the Espoir field offshore Ivory Coast that had been relinquished by Phillips Petroleum Company in 1988.

After the death of Mr. Lorenceau in a ski accident in late 2001, Jean Claude Gandur was appointed as the company's Chairman and CEO before its takeover by the Sinopec Group in August 2009.

Following an investigation by the Swiss criminal authorities, Addax's CEO and Legal Director were both charged for suspected violations of the Foreign Bribery Act.

[4] On the 31 January 2023, the four major oil mining blocks associated with Addax's production sharing contract (PSC) in Nigeria were formally acquired by The Nigerian National Petroleum Corporation (NNPC) Limited.

Addax Petroleum has a dominantly onshore and offshore brown producing-fields asset base located in Nigeria, Gabon, Cameroon and the Kurdistan Region of Iraq, as well as the UK North Sea's Continental Shelf.