The Nigerian National Petroleum Corporation, on Friday, cautioned against any further legal challenge by Shell Petroleum Development Company over Oil Mining Lease 11, saying it is about time Nigeria derived the benefit of the oil block after over three decades.
It said in a statement by its spokesperson, Garba-Deen Muhammad, that a recent Appeal Court judgement affirmed the oil firm’s operatorship of the OML 11. “In the ruling, the appellate court held that the Minister of Petroleum Resources has the discretion whether or not to renew the OML 11 lease in favour of SPDC. The court further held that the minister rightly exercised his discretion in awarding the OML 11 lease to NPDC, a subsidiary of the Nigeria National Petroleum Corporation.”
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