Court fixes March 20 for hearing Brittania-U, Chevron suit

Scales-of-Justice12 March 2014, Lagos – A Federal High Court sitting in Lagos has fixed March 20, 2014 for hearing of application challenging the jurisdiction of the court to entertain the suit brought before it by an indigenous oil company, Brittania-U Nigeria Limited against Chevron.

The plaintiff, Brittania-U Nigeria Limited had sought an interlocutory injunction from the court, seeking among other things the pronouncement that it won the bid conducted by Chevron for the acquisition of its 40 per cent equity interest in three oil blocks – Oil Mining Leases (OMLs) 52, 53 and 55 as well as restraining Chevron or its agents from conducting further bid from the already concluded process.

Brittania-U had claimed in its prayers that it was the preferred bidder of the bid process conducted by Chevron, having made the highest bid as well as paid the required initial deposit of the sum of $250million which represents 15per cent of their renegotiated and revised offer of $1,050billion.


– This Day

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