Minister welcomes end of OPL 245 dispute
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has praised the resolution of the long-standing dispute over Oil Prospecting Licence 245. He described the settlement as a significant boost for investor confidence in Nigeria’s oil and gas sector. The agreement involved the Federal Government, Eni, and Nigerian Agip Exploration Limited. Bola Tinubu was commended for his leadership in approving the process that led to this resolution.
What we know
- Heineken Lokpobiri said the settlement would encourage renewed investment and faster development of the offshore asset.
- The dispute was resolved through an agreement involving the Federal Government, Eni, and Nigerian Agip Exploration Limited.
- Bola Tinubu was praised for his role in approving the resolution process.
- The minister highlighted that the peaceful settlement sends a positive signal to global investors about Nigeria’s commitment to resolving legacy issues.
- He urged Eni to move quickly toward making a Final Investment Decision to maximise the asset’s benefits.
