The Italian multinational energy company, Eni, recently participated in the LNG 2023 energy fair in Vancouver, British Columbia, Canada. Despite being involved in a dispute with the Nigerian government over the OPL 245 oil field, Eni temporarily suspended arbitration proceedings to engage in talks with the government to convert their exploration license to mining. This decision was made collaboratively with the Federal Government of Nigeria following Nigeria’s withdrawal of civil lawsuits worth $1.1 billion against Eni over allegations of corruption in the OPL 245 deal. The move provides both parties with an opportunity to explore potential solutions and determine the necessary steps for license conversion.

By Editor

Leave a Reply