MOU between Oilcorp Energia and Bahrat Tanks and Vessels LLP

On July 10, 2023, Bahrat Tanks and Vessels LLP and Oilcorp Energia, one of the largest international petroleum commodity trader of choice signed a Memorandum of Understanding (MOU) to collaborate on operationalizing Article 6 on Carbon Market of the Paris Agreement in the Republic of Ghana

The essence of the MOU is to build the capabilities of Oilcorp Energia to attain net zero carbon rating by decarbonizing our operations and investing in green energy solutions projects in the following areas:

• Different methods for managing waste

• The oil and gas industry

• Transportation systems

• Sustainable energy solutions for households (including cookstoves and household gadgets)

• Forestry, encompassing both project-based and jurisdictional approaches within REDD+

• Conservation efforts focused on marine and coastal areas

• Any additional sectors that the Parties may determine as relevant.

Oilcorp Energia acknowledges the potential investment prospects in advancing the shift towards a low-carbon future by engaging in eco-friendly enterprises, generating environmentally friendly employment, transferring technology, and reaping sustainable development advantages in burgeoning carbon markets.