The Offshore Pollution Liability Association Ltd

OFFSHORE POLLUTION LIABILITY AGREEMENT ("OPOL")

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The following is an outline of what will be found in the full PDF document.

The Parties to this Contract are Operators of or intend to be the Operators of Offshore Facilities used in connection with exploration for or production of oil and gas.

Each of the Parties has resolved to provide an orderly means for compensating and reimbursing any Person who sustains Pollution Damage and any Public Authority which incurs costs for taking Remedial Measures as a result of a Discharge of Oil from any Offshore Facility so used and located within the jurisdiction of a State denominated hereunder as a "Designated State", provided that such Party is the Operator of the Offshore Facility and has made this Contract applicable to it.

Accordingly, the Parties who have executed this Contract as of the date hereof, together with those Persons who later become Parties hereto, in consideration of their mutual promises, have agreed, and do hereby agree as follows:

CLAUSE I - DEFINITIONS

CLAUSE II - GENERAL CONDITIONS

CLAUSE III - ADDITIONAL FUNCTIONS OF THE ASSOCIATION

CLAUSE IV - REMEDIAL MEASURES AND POLLUTION DAMAGE - REIMBURSEMENT AND COMPENSATION

CLAUSE V - FILING OF CLAIMS

CLAUSE VI - TIME FOR FILING CLAIM

CLAUSE VII - PAYMENT OF CLAIMS

CLAUSE VIII - ADMINISTRATION OF THIS AGREEMENT

CLAUSE IX - ARBITRATION

CLAUSE X - AMENDMENTS

CLAUSE XI - WITHDRAWAL AND TERMINATION

CLAUSE XII - LAW GOVERNING