A Review of the Nigerian Energy Industry

Eni claims audit into Nigerian oil deal finds no evidence of wrongdoing


06 June 2015, Sweetcrude, Lagos – An external audit conducted into a $1.3-billion Nigerian oil and gas production license deal made in 2011 “has not found evidence of illegal conduct”, Italy’s Eni reported late Sunday.

Eni is the subject of an investigation by the Italian authorities over the deal –between it, Royal Dutch Shell plc and the Nigerian government – to acquire the Malabu oil block (OPL 245), which is estimated to contain nine billion barrels of oil. However, the Italian firm stated that an audit conducted recently by an independent U.S. law firm on its behalf has not found evidence of illegal conduct in relation to the transaction.

Eni said that the audit examined documents and other information available to the company, and that a final report of this audit has been made available to the judiciary – with whom the firm is cooperating in full.

Both Eni and Shell have always denied any suggestion of wrongdoing pertaining to the OPL 245 transaction.

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