Eni, Nigerian Oil Co. Units Move To Enforce $500M Award

Law360, New York (June 16, 2017, 3:35 PM EDT) -- A subsidiary of Italian oil giant Eni SpA and an affiliate of a Nigerian gas company have urged a New York federal court to confirm an arbitral award of over $497 million, plus interest, against a Nigerian state-owned oil company issued in a dispute over a production-sharing contract.

The petitioners — Nigerain Agip Exploration Ltd., an Eni unit, and Oando OML 125 & 134 Ltd, an affiliate of Nigerian oil company Oando PLC — won the award against state-owned Nigerian National Petroleum Corp. following arbitration proceedings...
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