OPTS is an acronym for Oil Producers Trade Section. The OPTS is a sub group within the LCCI which is the umbrella association of businesses who have come together in order to promote their common interests.
The group membership includes both local and foreign-owned companies registered in Nigeria.
OPTS is a coalition of 29 indigenous and international oil companies dedicated to industry advancement through collaboration, advocacy, and awareness.
OPTS is an acronym for Oil Producers Trade Section. The OPTS is a sub group within the LCCI which is the umbrella association of businesses who have come together in order to promote their common interests. The group membership includes both local and foreign-owned companies registered in Nigeria who hold an Oil Prospecting License or an Oil Mining License. OPTS has two categories of membership – Associate Membership and Producer Membership. For both categories, membership is voluntary.The group came into existence in August 1962 with just 3 members, and Mr. D. Fleming of then Shell BP as Chairman.
OPTS currently has 29 member companies. They are AMNI IPDC Ltd , Aradel Holdings PLC , Chevron Nigeria Ltd , Dubri Oil Company Ltd. , Elcrest E&P Nigeria Ltd , Energia Limited , ENI / Nigerian Agip Oil Company Ltd , Equinor Nigeria Energy Company Ltd , Famfa Oil Limited , First Exploration & Production Dev. Co. Ltd , Heirs Energies , Lekoil Nigeria Ltd , Mobil Producing Nigeria UnLtd , Moni Pulo Nigeria Ltd , ND Western Ltd , Nexen Petroleum Nigeria Ltd , Newcross Exploration & Production Ltd , Pan Ocean Oil Corporation (Nig.) Ltd , Prime 127 Nigeria Ltd , Oando Energy Ltd , Oriental Energy Resources Ltd , Savannah Energy , South Atlantic Petroleum Nig. Ltd , Seplat Energy PLC , The Shell Petroleum Development Company of Nig. Ltd , Shoreline Natural Resources , TotalEnergies EP Nigeria Limited , Waltersmith Petroman Oil Ltd , Yinka Folawiyo Petroleum Ltd.
The cohesion among members make OPTS a credible voice in matters that affect the upstream oil and gas industry in Nigeria. The secretariat is manned by professionals seconded from member companies and is currently located at Suite 910 & 920, Black Diamond, 25 Ozumba Mbadiwe Street, Victoria Island, Lagos. The main objective of the group is to strengthen the long-term health of the offshore and onshore oil and gas industry in Nigeria by working closely with companies across the entire sector, government and other stakeholders to address critical industry issues.
However, in compliance with anti-trust laws, the industry does not share, exchange or discuss competitive information such as prices and profits among its members. The operations of OPTS member companies in partnership with the Nigerian National Petroleum Corporation generate about 80 per cent of Nigeria’s total annual revenue. Member companies of OPTS provide significant livelihood to Nigerians through direct employment or indirectly through local contractors and service providers. The industry provides funding for several universities and vocational institutes through scholarships and donations and other corporate social investment initiatives.
We abide by all applicable laws, rules, and regulations that are set to safeguard the rights of customers.
We foster trust, operate with integrity and exhibit honesty, fairness, responsibility, and ethical behavior.
We provide health-conscious services, adhere to safety rules,putting safety procedures into place, and producing safe goods.
We address social challenges and promote positive change by supporting and partnering with local communities through various initiatives, such as volunteering and contributions.
The Lagos chamber of commerce & industry
OPTS Management Committee has approved the following guidelines
Should OPTS advocacy efforts require collation of commercially sensitive information, a 3rd party consultant should be retained to collate such information
Each legal department of each OPTS member is to be responsible for ensuring these guidelines meet the requirements of such member and for proposing any updates to the guidelines as required
We promote the interests of our member-companies through the following activities: Defining and addressing non-competitive issues of common interest to members in order to ensure the continued viability of the Nigerian Oil and Gas industry. Promoting the exchange of ideas and non-competitive, non-sensitive information between member-companies to enhance their operational activities and to improve safety and environmental performance in the Nigerian Oil and Gas industry.
Providing a forum for advocacy in relation to government policies, laws and regulations that impact the Nigerian Oil and Gas industry.Promoting awareness among industry stakeholders and the Nigerian public on issues affecting the Nigerian Oil and Gas Industry. Undertaking or engaging in any other lawful activity, necessary, conducive or incidental to and/or generally aimed at promoting the attainment of the objectives of the OP.
© Copyright OPTS. All Rights Reserved
Developed by Softworks
