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Malabo Seeks To Stop FG From Signing $13b Deal


The Federal Government of Nigeria has been asked to stop the signing the Final Investment Decision (FID) for the $13.5 billion Zabazaba Deep Water Project.

Malabu Oil and Gas Limited, on Tuesday asked the Federal High Court, Abuja, to stop the Federal Government and six others from signing the Project. The Zabazaba Deep water Project is located in the contentious Oil Prospecting Licence (OPL 245).

The other defendants include, Shell Nigeria Exploration and Production Company, Nigerian Agip Exploration Company Limited, the Minister of Petroleum Resources, EFCC and Dan Etete.

Malabu Oil and Gas is also seeking for an order of interlocutory injunction, to restrain the Federal Government and the minister from considering to revoke or revoke the re- allocation of OPL 245 granted it.

Mr J.A. Achimugwu who filed the suit on behalf of Malabu Oil and Gas, said it was triggered by media publications that the defendants were negotiating to sign the FID for the project in the second quarter of the year.

Justice John Tsoho, granted permission to Malabu to serve the writ of summons and other processes on Shell Nigeria Ultra-Deep Limited at No. 21 and 22 Marina Avenue, Lagos.

He adjourned the matter until May 18 for the hearing of the motion. (NAN)

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