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

Eni Kicks Off Coral North FLNG Drilling Campaign Off Mozambique

TotalEnergies, SAPETRO Partner Up Ahead of Appraisal Campaign off Nigeria

Tullow Oil Taps DeepOcean for Subsea Riser Job off Ghana

Current News

Saipem, Subsea7 Merger Approved

New Fortress Energy Strikes US Power Deal, Keeps FLNG Restart Target

BOURBON Takes Delivery of First of Two 34-Meter Crew Boats

Aventa Adds Offshore Crewing Specialist to Group

Subscribe for OE Digital E‑News