Continental Focus, International Reach

Seven Takes Steps to Protect its Rights under the SAA with NPDC

Tuesday, March 28, 2017

Seven Energy Finance Ltd., with its parent company Seven Energy International Ltd., has taken legal steps to protect its rights under the Strategic Alliance Agreement between its wholly owned subsidiary, Seven Exploration & Production Ltd. and Nigeria’s state-run firm NPDC related to OMLs 4, 38 and 41.

On February 7 Seven Energy announced that it had received notice from NPDC of its intention to terminate the SAA. Seven Energy has since taken legal steps to protect its rights, including under the SAA, by applying for injunctive relief in the Nigerian courts and arbitration in accordance with the dispute resolution process under the SAA.

Despite the pending legal proceedings, Seven Energy and NPDC continue to engage in good faith to resolve the dispute amicably.


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