NUPRC resolves legacy OPL 245 concession dispute

The Nigerian Upstream Petroleum Regulatory Commission achieved a significant milestone in the resolution of issues surrounding OPL 245, one of Nigeria's most valuable offshore oil blocks, helping to remove longstanding legal uncertainty and support future investment.

OPL 245 is widely regarded as one of Nigeria’s most commercially significant offshore blocks and has historically been the subject of complex litigation and international arbitration involving multiple stakeholders. The recent settlement is expected to remove a major legacy risk in Nigeria’s upstream oil sector and strengthen investor confidence in the country’s regulatory framework.

Advisory Team:

Odujinrin & Adefulu

Adeoye Adefulu

Lateef Bamidele

Timothy Atasie

Tawakalt Oseni

Morenikeji Oyeleke