Italian oil giant Eni splits Nigeria’s OPL 245 into four licenses

Italian energy giant Eni has agreed with the Federal Government of Nigeria to restructure the long‑controversial OPL 245 oilfield, breaking it into four distinct licences, a strategic pivot in Nigeria oil production and a major development in West Africa energy investment.

Under the new arrangement, the original OPL 245 license will be converted into two development licences and two exploration licences, positioning the asset for renewed upstream activity and potential production expansion. 

The deal also brings a full settlement of past legal disputes and the termination of an international arbitration case tied to the block.

Four licences to spur new oil & gas development in Nigeria

Eni confirmed that Nigerian Agip Exploration Limited (NAE), a subsidiary of the Italian group, will serve as operator across the licences, with strategic participation from the Nigerian National Petroleum Company (NNPC) and Anglo‑Dutch major Shell. 

The licence split is widely seen as a mechanism to unlock stalled investment and accelerate oilfield output in Nigeria’s Niger Delta.

This restructuring aligns with Nigeria’s broader initiative to increase transparency, regional energy partnerships, and foreign direct investment in its oil and gas sector, a critical pillar of Africa’s largest economy.

Settling OPL 245’s legal saga after high‑profile corruption trial

The OPL 245 block has been at the center of one of the oil industry’s most high‑profile legal controversies. Italian prosecutors previously charged Eni and Shell executives in a case alleging that the bulk of the $1.3 billion paid for the licence was improperly diverted to political figures and intermediaries in Nigeria.

After years of litigation and global scrutiny, both companies, along with their executives, were acquitted in 2021, with courts finding insufficient evidence of criminal conduct. The latest settlement marks a formal end to arbitration proceedings and legal uncertainty surrounding the block’s ownership and development rights.

Eni’s long Nigeria footprint and Africa energy strategy

Founded in 1953 and headquartered in Rome, Eni is a global integrated energy company operating in more than 60 countries with interests spanning oil, natural gas, power generation, and low‑carbon solutions. 

It is widely classified among the world’s energy supermajors and backs a transition toward sustainable energy and carbon neutrality through investments in renewables, biofuels, and circular economy technologies.

Eni’s engagement in Nigeria dates back to 1962, encompassing decades of upstream hydrocarbon exploration and production, downstream activities, and community development initiatives. 

The latest OPL 245 agreement reaffirms the company’s role in shaping future Nigeria oil and gas development and strengthens its footprint in West Africa’s exploration and production landscape.