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Friday, March 21, 2014
A probe has been launched into ENI and Shell’s acquisition of OPL 245 offshore Nigeria by Italian police. The Nigerian deal for the block has come under scrutiny previously by the UK, who launched their own investigation last year. The investigation revolves around allegations of money laundering was involved in the $1.3 billion deal.
News paper reports out of Nigeria have the two international firms allegedly paying as much as $1.092 billion to the Nigerian government, with the government allegedly having an agreement to pay the money to Malabu Oil & Gas, which belonged to Dan Etete, a former petroleum minister of Nigeria. The money paid to Malabu Oil & Gas was then shared by some private companies belonging to certain government officials reports out of Nigeria said.
In February a committee of Nigeria’s House of Representatives set up to investigate the sale of the block to the two international firms recommended that the government should revoke the license, arguing that the agreement violated Nigerian law.
The announcement of the investigation from Italian prosecutor’s office in Milan said there are no suspects yet and are relying on wiretapping obtained from several ENI subjects.
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