Eni asks World Bank to intervene in fight about Nigeria oilfield
Eni plans to argue that Nigeria’s failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell breaches their investment agreement
13 October 2020 - 17:32
Milan/Lagos — Eni has filed a request for arbitration against Nigeria at the World Bank’s dispute settlement body and plans to argue that the country’s failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell nearly a decade ago breaches their investment agreement, court documents show.
OPL 245, an offshore field awarded to the two oil companies in 2011, is the subject of multiple court cases worldwide, including a criminal case in Milan in which the Nigerian government alleges roughly $1.1bn of payments from the companies was siphoned to politicians and middlemen...
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