Sirius Signs Crude Handling Agreement

Wednesday, February 13, 2019

Sirius Petroleum entered into a Crude Handling Agreement (CHA) in Nigeria with the terminal operator at the Ugo-Ocha FSO. The crude will be delivered to the FSO via tankers.

The Ugo-Ocha oil terminal is located offshore within the waters of the Exclusive Economic Zone of Nigeria and can store up 2,000,000 barrels of crude. The CHA provides for crude handling, receipt, storage and delivery, quality assurance, health, safety and environment and regulatory compliances.

Bobo Kuti, CEO of Sirius Petroleum, said “We are pleased to have secured this agreement to export our crude production through a secure offshore terminal which is in line with our commercial offshore strategy and provides the most flexible offtake option for our offtake partner.”

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