Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria saves $5.05bn as NNPC legal team wins four court cases

    Nigeria saves $5.05bn as NNPC legal team wins four court cases

    September 16, 2020
    Share
    Facebook Twitter LinkedIn WhatsApp
    Mele Kyari, NNPC GMD

    Ike Amos

    Abuja — The Nigerian National Petroleum Corporation, NNPC, Wednesday, stated that its legal team won four court cases that saved the country N5.05 billion.

    In a statement in Abuja, Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, stated that as a result of these victories, the corporation’s legal team won the ‘Leading Case Counsel Team’ of the 2020 Africa Arbitration Awards.

    He stated that the court cases were centred on disputes around oil wells and export terminals.

    Obateru listed the successful arbitration cases showcased by the NNPC Legal Team at the conference to include the IPCO (Nigeria) versus NNPC legal tussle, in respect of the dispute over the Bonny Export Terminal Project in which $367.5 million was saved after 13 years of litigation.

    He also listed the case between ESSO Exploration and Production Nigeria Limited versus NNPC, in respect of the dispute over the interpretation of the Production Sharing Contract, PSC, covering Oil Prospecting License, OPL, 209/Oil Mining Lease, OML, 133 in which the enforcement of $2.7 billion claim was dismissed.

    Other recent arbitration, according to Obateru, included ESSO & Others versus NNPC, in respect of alleged breaches in interpretation and implementation of the PSC covering OPL 222/OML 138 with over $380.141 million saved and the Atlantic Energy Group versus NPDC case, in respect of allegation of wrongful termination of Strategic Alliance Agreements over eight OMLs resulting in the award of $1.6 billion in favour of NPDC.

    The NNPC spokesperson explained that the award was given to the NNPC Litigation Team in recognition of its stellar performance at the 8th Edition of the East African International Arbitration Conference (EAIC) which held in Nairobi, Kenya, recently, with participants joining in virtually.

    He said: “At the conference which was aimed at promoting commercial arbitration and showcasing African lawyers and law firms which have performed well in arbitration practice, the NNPC Legal Team gave a presentation on the challenges and lessons learnt from arbitrations and the successes recorded.

    “Besides the presentation, the NNPC Legal Team’s entry for the Leading Case Counsel Team category of the Africa Arbitration Award was adjudged the best amongst entries from 100 other institutions across Africa resulting in the award.

    “The award is a testimony to the commitment of the Legal Division and indeed the staff of the corporation to the Transparency, Accountability and Performance Excellence (TAPE) agenda of the Mallam Mele Kyari-led management of NNPC.”

    Follow us on twitter

    Related News

    Renaissance Africa Energy unites 500 CEOs to advance Nigeria’s oil & gas growth

    NCDMB commends Heritage Energy on NOGICD Act implementation, reiterates commitment to HCD

    NEPZA, Federal Committee, Dangote Refinery FZE to crash petroleum products prices

    E-book
    Resilience Exhibition

    Latest News

    Renaissance Africa Energy unites 500 CEOs to advance Nigeria’s oil & gas growth

    June 27, 2025

    Customs seizes N3.6Bn illegal export in Owerri 

    June 27, 2025

    Seafarers’ Day: Minister launches NIMASA maritime labour e-platform

    June 27, 2025

    Stakeholders raise alarm over dangers of marine debris

    June 27, 2025

    NCDMB pledges oil industry support for Yikodeen safety footwear

    June 27, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.