By Ediri Ejoh
LEKOIL Limited, a West Africa-focused oil exploration and production company, has concluded plans to commence legal proceedings against the Ministry of Petroleum Resources over the Federal Government’s failure to grant consent for LEKOIL’ s investment in Oil Prospecting Lease (OPL) 310 block offshore Nigeria following its acquisition of previous stake holding by Afren Plc.
According to the plaintiff, “Despite progressing exploration and appraisal activities on OPL 310 as previously announced, the company has, to date, not received Ministerial Consent for its acquisition of the additional 22.86 per cent interest in OPL 310 or a satisfactory explanation of why such consent has not been forthcoming.
“As a result, the Company has taken the decision to apply to the Federal High Court for a declaration that is expected to expedite the consent process, and…
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