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Malabu Oil & Gas Ltd has filed a N1 trillion suit against the Federal Government over the splitting of the Oil Prospecting Licence (OPL) 245.
Malabu Oil, in the suit filed by its lawyer, Reuben Atabo, SAN, before Justice Mohammed Umar of the Federal High Court in Abuja, sought an order quashing the conversion of OPL 245 to OML 245 by the government.
Malabu, the applicant, had sued the president, the Attorney-General of the Federation (AGF) and the Minister of Petroleum Resources as 1st to 3rd respondents respectively in the suit marked: FHC/ABJ/CS/871/2026.
In the notice of motion dated and filed on May 25 by Atabo, the company argued that the conversion of OPL 245 to OML 245 was done while a number of cases were pending at the Federal High Cout up to the Supreme Court.
It therefore sought a declaration that splitting OPL 245 into four assets to be managed by Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration Production Company Ltd, Nigerian Agip Exploration Company Ltd, and NNPC Limited through the OPL 245 Resolution Agreement signed around March 5, was unlawful.
In addition, Malabu seeks an order awarding ₦1 trillion in damages against the respondents jointly and severally.
The company said the fine was for unlawful interference with its interests in OPL 245 and for actions that exceed the limits of the Petroleum Industry Act 2021.
The judge fixed June 11 for hearing of the matter.
Justice Umar had, on Thursday, granted leave to Malabu Oil & Gas Ltd to apply for a judicial review by way of declarations and injunctions against the executive action of the Federal Government in splitting OPL 245.
