Petroleum Africa
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Monday, May 26, 2014
Nigerian firm Seplat said it is confident it will win a dispute over the purchase of a Chevron asset for which Seplat was the second highest bidder. The firm’s CEO Austin Avuru said during a presentation of Seplat’s interim management statement that the company had appealed against a ruling which gives jurisdiction to a Nigerian court in deciding the outcome of a Chevron oil block sale.
Earlier this month a Nigerian judge ruled that the country’s Federal High Court should have jurisdiction over Chevron’s dispute with Nigerian indigenous firm Brittania-U. Chevron believes that the sale is a private matter and should not be subject to court involvement.
“We remain confident that the Chevron acquisition will be settled in our favor” Avuru said.
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