Malabu Oil drags govt, Agip, others to court over Zabazaba deepwater project

*Justice.

12 April 2017, Sweetcrude, Abuja – Malabu Oil and Gas Limited has asked the Federal High Court in Abuja to stop the Federal Government, Nigerian Agip Exploration Company Limited and five others from signing the Final Investment Decision for the $13.5bn Zabazaba DeepWater Project.

Nigerian Agip is the operators of the oil field located in the contentious Oil Prospecting Licence (OPL 245), and is expected to generate $8bn for Nigeria when it becomes operational.

The other defendants include Shell Nigeria Exploration and Production Company, the Minister of Petroleum Resources, EFCC and Dan Etete.

Malabu Oil and Gas is also seeking for an order of interlocutory injunction, to restrain the Federal Government and the minister from considering to revoke or revoke the re- allocation of OPL 245 granted it.

Mr J.A. Achimugwu, who filed the suit on behalf of Malabu Oil and Gas, said it was triggered by media publications that the defendants were negotiating to sign the FID for the project in the second quarter of the year.

Justice John Tsoho, granted permission to Malabu to serve the writ of summons and other processes on Shell Nigeria Ultra-Deep Limited at No. 21 and 22 Marina Avenue, Lagos.

He adjourned the matter until May 18 for the hearing of the motion.

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