Shell Writes Down Nigerian Offshore Block at Heart of Italian Bribery Trial

Shadia Nasralla
Thursday, July 30, 2020

Royal Dutch Shell said on Thursday its second-quarter writedowns include the OPL 245 license for an offshore oilfield in Nigeria which it holds alongside Eni and which is at the center of an ongoing corruption court case in Italy.

Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. All the defendants have denied any wrongdoing.

Shell said a post-tax impairment charge of $4.658 billion was "mainly related to unconventional assets in North America, assets offshore in Brazil and Europe, a project in Nigeria (OPL245), and an asset in the U.S. Gulf of Mexico." 

(Reporting by Shadia Nasralla; editing by Jason Neely)

Categories: Energy Industry News Activity Africa

Related Stories

MODEC Finds Partner for FPSO and Maritime Projects in Africa

MODEC Finds Partner for FPSO and Maritime Projects in Africa

Temis Flotel Set to Support Shell’s Bonga Project off Nigeria

Temis Flotel Set to Support Shell’s Bonga Project off Nigeria

Nguya FLNG Unit to Set Sail for Next Phase of Eni's Congo LNG Project

Nguya FLNG Unit to Set Sail for Next Phase of Eni's Congo LNG Project

Current News

UK Approves 1.5GW Morgan Offshore Wind Project in Irish Sea

ADES’ Jack-Up to Remain with QatarEnergy Under New Multi-Year Deal

Dolphin Drilling Lines Up Work for Borgland Dolphin Semi-Sub Rig

Mexico's Pemex Signs Up Private Firms to Bolster Oil Output

Subscribe for OE Digital E‑News

Offshore Engineer Magazine