A judge in Abuja granted NNPC an “order of interim
injunction” on July 6, 2022, barring Exxon “from completing any divestment” in
a unit that ultimately operates four licenses in Nigeria, Blomberg reported on
Monday.
The Lagos-based producer, Seplat, had agreed to acquire the
United States oil major’s subsidiary for at least $1.28bn in February.
The report stated that NNPC wished to block the transaction
and to take over the permits itself.
Bloomberg stated that NNPC sued Mobil Producing Nigeria
Unlimited on July 5, 2022, asking the Federal High Court either to order that a
dispute had occurred between the parties over preemption rights, or to order
them to take the matter to arbitration, quoting a statement from Seplat.
Seplat, which was not party to the lawsuit, said its deal
with Exxon was “still valid” and the company “remains confident that the matter
will be brought to a proper conclusion in accordance with the law.”
A spokeswoman for Exxon declined to comment, according to
Bloomberg, while a spokesman for the NNPC did not respond to a phone call and
text message.
The acquisition would give Seplat additional production of
about 95,000 barrels of oil equivalent a day from shallow-water assets that
Exxon operated in a joint venture with NNPC.
For more than a decade, international oil companies active
in Nigeria have been offloading large parts of their portfolio across the
country to domestic players, a trend that has recently accelerated.
An order from a Nigerian court had also forced Shell Plc to pause its plans to sell all off its remaining onshore permits in Nigeria.