| July 1, 2015 |

OPA Explanation and Update

Issues arising from the Crude Oil Offshore Processing Agreement (OPA) and the National Resource Governance Institute (NRGI) report on OPAs in Nigeria.

In May 2015, Sahara issued a statement explaining the operations of the Crude Oil Offshore Processing Agreement (OPA). Subsequently in August 2015, the NRGI issued a report titled “Inside NNPC Oil Sales: A case for reform in Nigeria”.

Sahara has consistently addressed all the OPA issues transparently and maintains that OPA’s are well established mechanisms in the industry globally for the supply of a range of petroleum products and Sahara participated in one such process that was designed, superintended, managed and monitored by NNPC/PPMC.

Please click on the OPA and OPA Update links to access the details.