Sahara Explains the Offshore Processing Agreement (OPA)

May 19, 2015, 05:50 ET from Sahara Group

LAGOS, Nigeria, May 19, 2015 /PRNewswire/ --

In its almost 20 years of operations, the Sahara Group has witnessed an unfolding expansion story that transcends global markets and borders. The Group continues to play a leading role in the midstream, downstream, upstream, infrastructure and power sectors, bringing energy to life in the process.

Sahara has a pedigree of providing platforms for economic growth in markets where it operates, always seeking to make a difference through its sustainable approach to corporate responsibility.

The Group has been involved in initiatives, alliances and activities aimed at developing and strengthening its corporate governance and compliance systems. The thrust of this pursuit of best practice is to ensure the company operates its businesses transparently and efficiently to the benefit of all stakeholders. 

Sahara also believes that applying itself to the highest standards of good governance positions the company as a role model for other businesses in the quest for corporate responsibility in Africa and the world. Sahara's membership of the World Economic Forum's Partnering Against Corruption Initiatives (PACI) signposts its firm resolve to this cause. 

It has come to our attention that there has been several speculations and media interest in the crude oil offshore processing agreement (OPA) entered into by Society Ivoirienne de Rafinage, Abidjan (SIR) (for whom we act as local agent) and Pipelines and Products Marketing Company (PPMC). It has become increasingly apparent to us, however, that most of these speculations and interest are driven by misconceptions circulating in the public domain about the OPA (and other contracts similar to the OPA), how the OPA is operated and its commercial rationale.

Consequently, we have through the links below, elected to provide clarification on our involvement with OPA, as well as other frequently asked questions about Sahara in keeping with our commitment to transparency and status as a member of the World Economic Forum's Partnering Against Corruption Initiative (PACI).

Please click link below for explanation of OPA 

OPA Explanation

Please clink link below for answers to FAQs about Sahara Group 

FAQs about Sahara Group

ABOUT SAHARA  

Sahara Group is a leading privately owned Power, Energy, Gas and Infrastructure Conglomerate with operating entities active in the downstream, midstream, upstream, infrastructure and power sectors. Sahara currently has its operations in Africa, Europe, Asia and the Middle East and continues to explore new frontiers to replicate it passion for seeking creative, cleaner and sustainable ways of being the provider of choice wherever energy is consumed.

Please see additional information at  http://www.sahara-group.com.

SOURCE Sahara Group