Nigeria Splits OPL 245 Oilfield in Eni, Shell Deal

The Nigerian government has reached an agreement to split the OPL 245 oilfield with Eni and Shell, as reported by Reuters. This decision comes after nearly three decades of legal disputes and corruption allegations surrounding the oil block, which is part of Nigeria's largest untapped deepwater reserves.

The final contract is expected to be signed starting Monday, with sources indicating that the government is eager to find solutions to bring the block into production. The OPL 245 license was originally awarded to Malabu Oil and Gas, a company linked to former Nigerian oil minister Dan Etete, and was sold to Shell and Eni.

Italian prosecutors allege that $1.3 billion of the purchase price was siphoned off to politicians and middlemen. Eni's CEO Claudio Descalzi, along with other executives, faces trial in Italy, although they have denied any wrongdoing.

Both Eni and Shell declined to comment on the matter, and Nigeria's state-owned oil company, NNPC, also had no immediate comment.