Attorney-General says critics of the OPL 245 dispute resolution are pursuing selfish interests, insisting the settlement protects Nigeria from multi-billion-dollar liability.
The Office of the Attorney-General of the Federation has said opposition to the resolution of disputes surrounding the OPL 245 oil block is driven by selfish interests rather than patriotism.
The reaction followed media reports attributed to the media office of former Vice-President Atiku Abubakar criticising the recent settlement.
According to the statement, the oil block was originally awarded to Malabu Oil & Gas Ltd in April 1998, revoked in July 2001, and later allocated to Shell Nigeria Ultra-Deep Limited in May 2002, triggering prolonged litigation and public hearings.
It said the disputes were addressed in the 2011 Resolution Agreement involving the Federal Government, Malabu, Shell entities-now succeeded by Shell Nigeria Exploration and Production Company Limited-and Nigerian Agip Exploration Limited.
Under the agreement, Malabu relinquished its claims while the block was reallocated to SNEPCo and Nigerian Agip Exploration as joint licence holders, with a requirement for conversion to an Oil Mining Lease.
The statement noted that the transactions were later scrutinised in judicial proceedings across the United States, United Kingdom and Italy, which did not establish wrongdoing against the companies or the transaction.
It added that following delays in converting OPL 245 into an Oil Mining Lease, Eni entities initiated arbitration at the International Centre for Settlement of Investment Disputes, claiming breach of obligations under the Nigeria–Netherlands Bilateral Investment Treaty.
Nigeria, the statement said, faced potential liability exceeding two billion dollars in damages and associated costs.
The government maintained that the dispute resolution would unlock development of the offshore asset located about 150 kilometres from Nigeria’s coastline and projected to add about 150,000 barrels per day to national output.
It also cited a Court of Appeal decision in Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd (2025), which dismissed Malabu’s challenge to the allocation of the block.
The statement said critics of the settlement were attempting to frustrate a lawful resolution capable of boosting revenue, improving energy security and restoring investor confidence.
It urged Nigerians to disregard what it described as misleading narratives and support efforts to unlock the economic potential of the asset.
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