TIMELINE HISTORY

1990

OFFSHORE SOLUTION

OFFSHORE SOLUTION, has experienced rapid growth since its inception in 1990. We are the only indigenous company currently in a joint venture relationship with the national oil company of Nigeria, Nigeria National Petroleum Corporation. We are also among the leading exploration and production companies in Nigeria, and we continue to experience rapid growth. At OS, we have leveraged on our head start against other indigenous oil explorers to build a professionally run organization with high-end service delivery and responsible community development portfolio. We are focused on our growth potential, carefully studying emerging businesses in the oil & gas industry. In all, we are poised to become a leading light in the oil industry as we steadily pursue our goals

1993

Crude oil production

OS commenced crude oil production in August 1993 at the Ogharefe field of OML 98 which is situated in the northern fringe of the Niger Delta region of Nigeria. Offshore solution has been in a Joint Venture with the Nigeria National Petroleum Company (NNPC) in respect of OML 98. As a Joint Venture (JV) partner, the NNPC has 60 percent working interest in OML-98 while OS has 40 percent.

2008-2009

Oil Prospecting License 275

Through strategic planning, aggressive exploration and production activities and tenacity, Offshore solution acquired the Oil Prospecting License 275 during the 2008 bid round. In 2009, We signed a Production Sharing Contract (PSC) with the NNPC on Oil Prospecting License (OPL) 275.

2010

Ovade-Ogharefe gas processing plant

The Ovade-Ogharefe gas processing plant is a trail blazing initiative in gas development. Currently, the gas plant is the largest carbon emission reduction project in West Africa. The plant has a production design capacity of 130MM SCF/D (million standard cubic feet per day. The Ovade-Ogharefe Gas Processing Plant is designed to provide for the allocated gas supply of 65mmcf/d to Egbin power station, a subsidiary of the Power Holding Company of Nigeria (PHCN). The plant will further supply LPG (liquefied petroleum gas) to the Nigerian domestic market when fully completed. We signed the Gas Sales Aggregation Agreement with the Federal Government and Egbin power station, subsidiary of PHCN in June 2010.