Malabu Oil and Gas Limited, the company mired the $1.3 billion OPL 245 oil bloc scandal is battling to keep it’s stake in the deal by approaching a Federal High Court seeking an order of court stopping Shell Nigeria Exploration and Production Company and Nigerian Agip Exploration Company Limited from signing the Final Investment Decision (F.I.D) for the $13.5 billion Zabazaba Deep water Project located in Oil Prospecting Licence (OPL245) with the federal government.
The signing of the FID, according to Malabu Oil, has been slated for the second quarter of this year.
The company in a motion on notice is also asking for an order of interlocutory injunction restraining the federal government and the Minister of Petroleum Resources from considering to revoke or revoking the reallocation of OPL 245 granted to the applicant by virtue of the first and second defendants’ letter of July 2, 2010, pending the determination of the suit.
The defendants in the suit are federal government, the Minister of Petroleum Resources, Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd; Nigerian Agip Exploration Company Ltd; Economic and Financial Crimes Commission and Chief Dan Etete.
Justice John Tsoho has fixed May 18, 2017 for the hearing of the motion.
Justice Tsoho also granted leave to the applicant to serve the writ of summons and other processes on Shell Nigeria Ultra-Deep Limited at No. 21 and 22 Marina Avenue, Lagos.
The plaintiff is further seeking an order of interlocutory injunction restraining each and all the defendants/respondents by themselves, their servants or agents or howsoever otherwise from offering for sale, selling, mortgaging or in any form whatsoever alienate and / or grant any oil Prospecting Licence or lease to any other person or persons in respect of Zabazaba Deep water and /or Etan oil fields located within the area of the oil prospecting Licence 245 (OPL245) the subject matter of this suit pending the hearing and determination of this suit.
Malabu Oil and Gas Ltd is further asking for an order of interlocutory injunction restraining the 1st and 2nd defendants/respondents (Federal government and the Minister of Petroleum Resources) by themselves, their servants or agents or howsoever otherwise from entering into any form of agreement with the 3rd, 4th and 5th defendants/ Respondents or with any third parties to prospect for and/ or explore for oil/ petroleum products within the area covered by Zabazaba Deep Water and /or Etan oil fields within the area covered by the oil prospecting Licence 245 (OPL245) the subject matter of this suit pending the hearing and determination of this suit.
