Sirius Petroleum signs crude handling agreement in Nigeria

Writer, Stock Market Wire
Monday, February 11, 2019 - 08:16

Sirius Petroleum said it had entered into a crude handling agreement with the terminal operator of the Ugo-Ocha floating storage and offloading unit off the coast of Nigeria.

The terminal could store up 2m barrels of of crude.

The agreement provided for crude handling, receipt, storage and delivery, quality assurance, health, safety and environment and regulatory compliances.

'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,' chief executive Bobo Kuti said.

At 8:16am: (LON:SRSP) Sirius Petroleum PLC share price was +0.01p at 0.49p

Related content

Sirius Petroleum to delist from AIM next week, pursue LSE listing

Nigeria-focused oil and gas company Sirius Petroleum said it would delist from AIM and pursue a listing on the main board of the London Stock...

Fri, 23/08/2019 - 09:25

Sirius Petroleum seeks Nigeria licence extension as it awaits arrival of drilling rig

Sirius Petroleum said it had requested a licence extension in Nigeria while it waits for a drilling rig to arrive at its Ororo prospect in...

Fri, 05/04/2019 - 08:15

Sirius Petroleum in 'advanced' stages of funding talks

Sirius Petroleum said it was in advanced stages of discussion on funding that would enable the company to executive a minimum work programme at its...

Mon, 25/02/2019 - 16:47

Sirius Petroleum completes due diligence on Nigerian oil prospect

Sirius Petroleum said it had completed its due diligence in relation to a prospect in Nigeria and was now finalising financing with a 'dedicated fund'....

Mon, 18/02/2019 - 09:19

Sirius Petroleum secures up to $20m loan for Nigeria wells

Sirius Petroleum said it had secured an up to $20m loan from Africa-focused Bank Fund to cover the phase of its Ororo development in Nigeria....

Mon, 28/01/2019 - 08:28