OPL 245 Offshore Block Case: Milan Court Rejects Nigeria's Compensation Request Against Eni, Shell

Friday, November 11, 2022

An appeals court in Milan on Friday rejected Nigeria's $1.092 billion compensation request against Italian energy group Eni and Shell in civil proceedings relating to a $1.3 billion oilfield deal. 

The decision was read out in court. In July, prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi, in one of the oil industry's biggest alleged corruption cases. 

Eni could not immediately be reached for a comment on Friday's ruling. 

The main case revolved around a deal in which Eni and Shell acquired the OPL 245 offshore oilfield in 2011 to settle a long-standing dispute over ownership. 

Prosecutors alleged that just under $1.1 billion of the total amount was siphoned off to politicians and middlemen. 

A lawyer representing Nigeria in the proceedings added the country was still deciding whether to appeal the decision at Italy's top administrative court. 

Documents explaining the reasons behind Friday's decision will be made available in 90 days. 

(Reporting by Alfredo Faieta and Francesca Landini, writing by Agnieszka Flak, editing Federico Maccioni and David Evans)

Categories: Industry News Activity Europe Africa People & Companies

Related Stories

Ecopetrol CEO Bayon to Step Down on March 31

Eni CEO Descalzi Set for Record for Fourth Term

Saipem Secures $900M in Offshore Contracts with TotalEnergies and Equinor

Current News

New Petrobras CEO Says to Drive Energy Shift while Expanding Oil and Gas

Aker BP Awards Edvard Grieg EPCI Contract to Moreld Apply

Ørsted and Eversource Bid for New Offshore Wind Farm in New York

BP Spuds Exploration Well in Caspian Sea

Subscribe for OE Digital E‑News