Fri Jun 2, 2006 7:36 AM BST
By Tom Bergin
LONDON (Reuters) – Royal Dutch Shell is in dispute with a little-known Nigerian company over ownership of a stake in a Nigerian oil block, that recent drilling suggested could be rich in hydrocarbons.
A Shell Nigerian subsidiary placed an advertisement in The Times on Thursday saying that it was taking legal action to assert ownership of a 40 percent interest in Nigerian Offshore Block OML 122.
“Peak Petroleum Industries Nigeria Limited, the operator and retainer of 60 percent interest in OML 122 initiated court action against Shell in February 2006, seeking declarations to the effect that Shell’s interest has terminated,” the advertisement said.