The two IoCs that acquired the oil block from Malabu Oil & Gas Limited in 2011 were Shell and Eni. Yesterday, a Milan appeals court rejected Nigeria's compensation demand for $1.1 billion.
Following Nigeria's denial of a compensation claim worth $1.1 billion in an Italian court regarding Oil Prospecting Licence (OPL) 245, Shell, the International Oil Company (IoC), has responded.
The two IoCs that acquired the oil block from Malabu Oil & Gas Limited in 2011 were Shell and Eni. Yesterday, a Milan appeals court rejected Nigeria's compensation demand for $1.1 billion.
After rejecting the nation's claims, the Milan appeals court promised to publish its justification within 90 days.
OPL 245: Shell reacts after Nigeria's $1.1 billion compensation claim is rejected in court
Several criminal trials were held in Nigeria and Italy due to the government's allegations of corruption in the deal. However, the business expressed satisfaction with dismissing the case and added that Shell or its former employees are not subject to further investigation.
In a statement made public and obtained by Vanguard, the company expressed its "satisfaction that these civil proceedings have been dismissed." Following their complete acquittal in 2021, the Milan criminal tribunal determined that Shell or its former employees had no case to answer.
This conclusion was upheld in July 2022, when the criminal case was over.
After three years of criminal proceedings, the Court of Milan previously discharged and acquitted Shell, Eni, and all defendants in March 2021, finding that the prosecutors had failed to present any proof of corruption.
Later, the prosecutors appealed, but Celestina Gravina, the attorney general of Italy declared that the case "has no basis." Finally, the High Court of England and Wales ruled in July 2022 that Nigeria had failed to prove its allegations against former Attorney-General Mohammed Bello Adoke.
He was accused of corruption in the deal. Despite Adoke's repeated claims that he didn't accept bribes, the government is currently bringing charges against him in two different Nigerian courts.