by AIT: 12 April 2017
Courts in Nigeria and Italy are investigating the purchase of the offshore block which was initially awarded in 1998 to Malabu Oil and Gas, in a disputed deal, before Royal Dutch Shell and Eni were awarded the rights in 2011.
Shell and Eni paid $1.3 billion for the rights to the block, which industry estimates say could hold more than 9 billion barrels of oil.
The House of Representatives mandated the committee to “conduct a thorough examination of the process and circumstances surrounding OPL 245 and identify culpability of any persons, groups or organisations,” committee chairman Razak Atunwa said in an emailed statement.