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Nigeria escalates fight over OPL 245 oil block granted to Eni and Shell

in Abuja and in London: 10 MAY 2019:

The Anglo-Dutch and Italian companies paid $1.3bn for the block, but Nigeria believes the undeveloped deepwater block could be worth at least $3.5bn and damages should now be calculated on that basis, documents filed in the commercial division of the High Court in London said.

The claim in the English courts alleges that Shell and Eni “both paid bribes” either directly or indirectly and senior executives at both companies “received bribes (or were intended to receive bribes)” as part of the 2011 deal.

Nigerian and Italian prosecutors have alleged that the companies knew that most of the money would be funnelled to corrupt government officials and executives.


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