Malabu asks court to stop FG from signing $13bn project with Shell, Agip

Malabu asks court to stop FG from signing $13bn project with Shell, Agip

Malabu asks court to stop FG from signing $13bn project with Shell, Agip

Malabu Oil and Gas Limited has asked the federal high court to stop Shell Nigeria Exploration and Nigerian Agip Exploration Company Limited from signing a final investment decision (FID) on the $13.5 billion Zabazaba deepwater project located in the controversial OPL245.

Malabu is also asking for an interlocutory injunction restraining the federal government and the petroleum resources minister from revoking the re-allocation of OPL 245 granted to it on July 2, 2010.

In a motion marked FHC/ABJ/CS/201/2017 and filed by J.A. Achimugwu on behalf of Malabu on Tuesday, it said Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd and the government were working to sign the Zabazaba deep water project before the end of the second quarter of this year.

Malabu also claimed ownership of OPL245 which was first granted to it on April 29, 1998.

Malabu named the federal government, minister of petroleum resources, Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd, Nigerian Agip Exploration Company Ltd, Economic and Financial Crimes Commission and Chief Dan Etete as defendants.

Ruling on the matter, John Tsoho, the judge, gave leave to Malabu to serve summons to parties in the matter.

He fixed May 18 for hearing of the matter.

Source @thecableng
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