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Malabu Oil & Gas seeks legal redress over $13.5bn deepwater project

Just as at the Federal Government is calling for the arrest of former top government officials who were enmeshed in the dirty deals involving Malabu Oil and Gas Limited, on Tuesday, the embattled company sued the apex government at a Federal High Court in Abuja, seeking redress in the$13.5bn Zabazaba DeepWater Project.

Key in the prayers of the complainant is to stop the Federal Government and six others from signing the Final Investment Decision for the $13.5bn Zabazaba DeepWater Project.

Zabazaba Deepwater Project is located in the contentious Oil Prospecting Licence (OPL 245).

Joined in the suit include Shell Nigeria Exploration and Production Company, Nigerian Agip Exploration Company Limited, the Minister of Petroleum Resources, EFCC and Dan Etete.

Besides, 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.

According to Chief J.A. Achimugwu, who filed the suit on behalf of Malabu Oil and Gas, it become necessary due to the media reports purporting that the defendants were negotiating to sign the FID for the project in the second quarter of the year.

When mentioned, presiding 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 as the matter was adjourned the matter until May 18 for the hearing of the substantive motion.

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