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

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)

Current News

Ireland: Providence Pens Barryroe Field Farmout Deal with SpotOn

Ireland: Providence Pens Barryroe Field Farmout Deal with SpotOn

UK: Clean Energy Investments Could Grow North Sea Jobs to 232,000 by 2050

UK: Clean Energy Investments Could Grow North Sea Jobs to 232,000 by 2050

Brazil: PGS to Resume Campos Basin 3D Seismic Survey in December

Brazil: PGS to Resume Campos Basin 3D Seismic Survey in December

Premier Oil, Rockhopper, Navitas Take More Time for Sea Lion Deal

Premier Oil, Rockhopper, Navitas Take More Time for Sea Lion Deal

Subscribe for OE Digital E‑News

Offshore Engineer Magazine