A Nigerian court has overturned an earlier ruling to confiscate an oil asset from Shell and Eni, a news report said.
A judge at the Federal High Court said the application to hand control of oil block OPL 245 to the Nigeria Government was irregular and should have been turned down, Reuters reported.
In January, a court ordered the seizure of the licence following a request from Nigeria’s financial crimes watchdog.
It was investigating allegations of corruption over the $1.3billion purchase of OPL 245 by Shell and Eni in 2011.
Shell said the watchdog had been guilty of a gross abuse of power.
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- Opinion: Mr Clark, challenge Ospar decommissioning rules now
- Opinion: What a Westinghouse bankruptcy could mean for US utilities
- Opinion: Treasury’s North Sea tax paper raises interesting points
- Opinion: Energy Jobline says yes to Sector Mobility within energy
- Opinion: Bridging the energy expectations gap