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Nigeria resolves 15-year OPL 245 oil dispute, paving way for 150,000 bpd project.
Nigeria’s President Bola Tinubu has resolved a 15-year dispute over the OPL 245 oil block, a major deepwater asset, in a deal signed with Italian firm Eni and its Nigerian subsidiary NAEL.
The agreement, reached in Abuja, clears the path for a Final Investment Decision on the Zabazaba–Etan project, expected to add about 150,000 barrels per day to Nigeria’s oil output.
The settlement, aligned with the Petroleum Industry Act, aims to boost investor confidence, enhance transparency, and strengthen national revenue from oil resources.
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Nigeria resuelve la disputa petrolera OPL 245 de 15 años, allanando el camino para el proyecto de 150,000 bpd.