Supreme Court Reserves Ruling in Dispute over Sale of Oil Bloc

The Supreme Court has fixed January 29, 2016 for judgment in the dispute between Chevron and Brittania-U, which arose following the failure of the former to transfer ownership of some oil blocks to the latter having successfully out-bidded other oil firms during the bidding exercise.

Brittania-U Nigeria Limited is challenging the award of OML 52, 53 and 55 by Chevron Nigeria Limited to Seplat Petroleum Development Company Limited.

Joined as defendants also are Chevron USA Inc, BNP Paribas Securities Corp, Hermant Petel and Seplat Petroleum Development Company Limited.

Counsel to the contending parties yesterday confirmed that judgment has been fixed for the said date following the adoption of their briefs of argument on the appeal before the apex court.

While adopting his brief of argument, counsel to the appellant, (Brittania-U) Mr. Rickey Tarfa, SAN, supported by Abiodun Owonikoko, SAN, submitted that the appeal before it was in respect of the judgment of the Court of Appeal of June 20, 2014, which vacated the order of the Federal High Court, Abuja  for the maintainance of status quo with regard to the oil blocks.

Accordingly, Tarfa prayed the court to grant the motion for mandatory restorative order to revert parties to status quo before the appeal was lodged.