Global oil giant, Aiteo has slammed Anglo-Dutch company, Shell, with a $2.5bn lawsuit over claims made by the former in the sale of the OML 29.
In the suit filed at the Federal High Court on July 27, 2021, plaintiff claimed that Defendant, Shell which was the operator of the OML called for bids for the undivided 45% interest which is held with its partners Total and AGIP. In the agreement signed at the sale of the facility, Shell listed oil well in the OML to include Kugbo West 1-4 and Okiori Nos. 93-94 and further warranted that all statements and claims in the agreement are factul that the oil wells were part of what was transferred to Aiteo and were not encumbered in any way as no third party had any right to interfere in their operations and ownership of the oil wells.