US EditionNigeria: Adoke Demands Apology From Nigerian Govt Over Persecution in Opl 245 Dispute
The settlement ends a 15-year dispute over OPL 245, enabling development of the Zabazaba-Etan deepwater project and potentially adding 150,000 barrels per day to Nigeria’s oil output.
- On Thursday in Abuja, President Bola Ahmed Tinubu announced a settlement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited that ends a dispute over Oil Prospecting Licence 245 after more than 15 years.
- Olu Arowolo-Verheijen, the president’s Special Adviser on Energy, said the revised agreement reflects reforms under the Petroleum Industry Act and improves on the 2011 agreement by offering investors clarity and stronger value for the federation.
- Claudio Descalzi, CEO of ENI, Fabrizio Bolondi, Managing Director of Nigerian Agip Exploration Limited, and Olu Arowolo-Verheijen signed in Abuja with Guido Brusco and Mario Bello present.
- The agreement enables a near-term Final Investment Decision for the Zabazaba–Etan deepwater project, with officials estimating a boost of approximately 150,000 barrels per day to Nigeria’s oil output.
- Tinubu framed the settlement as a signal to global investors, calling it a strategic milestone that underscores efforts to unlock energy assets and commended NUPRC and NNPC Limited.
18 Articles
18 Articles
Tinubu announces 'historic' deal to end decades-long OPL 245 controversy
The presidency said the agreement paves the way for a development that could add approximately 150,000 barrels per day to the country's production capacity. The post Tinubu announces ‘historic’ deal to end decades-long OPL 245 controversy appeared first on Premium Times Nigeria.
OPL 245: Tinubu finally settles Nigeria's largest untapped oil block dispute after 15 years
President Bola Tinubu has finally settled the protracted dispute over Oil Prospecting License 245 in the Niger Delta after 15 years. In a statement on Thursday, the Nigerian government announced that Italian energy giant Eni and its subsidiary Nigerian Agip Exploration Limited, NAEL, signed a settlement agreement in Abuja. The agreement was reached after a meeting between Eni’s Chief Executive Officer, Claudio Descalzi; Managing Director of NAEL…
Tinubu Resolves OPL 245 Dispute With ENI, Unlocks Deepwater Investment
President Bola Tinubu on Thursday announced the successful conclusion of a settlement agreement between the Federal Government, Eni and Nigerian Agip Exploration Limited over Oil Prospecting Licence (OPL) 245. Tinubu announced the agreement at a meeting in his office attended by the Chief Executive Officer of Eni, Claudio Descalzi and other senior officials. Others present included Eni’s Chief Operating Officer, Guido Brusco, Head of Sub-Saharan…
OPL 245 Returns: The $1.3 Billion Scandal That Refuses to Stay Buried
Just when you thought one of the oil industry’s most notorious corruption sagas might finally fade into history, Nigeria has decided to give it a fresh coat of paint and a new corporate structure. The controversial offshore oil licence OPL 245—long associated with bribery allegations, court battles across continents, and enough legal paperwork to deforest half the Niger Delta—has now been split into four new blocks under an arrangement involving…
Tinubu resolves 15-year old OPL 245 dispute, paves way for deepwater investment
President Bola Tinubu has successfully resolved the long-standing dispute over Oil Prospecting Licence (OPL 245), marking a major milestone for Nigeria’s deepwater oil sector. The historic settlement, according to a Thursday statement by Bayo Onanuga, Presidential Spokesperson, was reached between the Federal Government, Eni, and Nigerian Agip Exploration Limited (NAEL), and was […]
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