The saga of OPL 245 is set to continue in London’s High Court in February, where the Nigerian government will claim JP Morgan Chase failed to meet regulatory requirements when it transferred $875m to a company allegedly controlled by a corrupt former oil minister. This follows a case in Milan last year that exonerated Eni and Royal Dutch Shell of wrongdoing during the purchase of rights for OPL 245 in 2011. Other cases are still active, including the prosecution of eight defendants in Abuja and a Washington arbitration between Eni and the Nigerian government in which the Italian major is claiming damages for delays to the development of OPL 245, writes Marc Howard
Subscribe to African Energy
African Energy is a brand of
