A Milan court has acquitted Shell together with a number of its past and present managers including Eni’s Chief Executive Claudio Descalzi of allegations of wrongdoing around Nigeria’s OPL 235 license in the Italian Trial.
While the two companies welcomed the news, they also stated that they would consider their position only once the written judgement has been read. In the meantime, On Wednesday 17th March 2020 Nigeria voiced their disappointment about judgement.
“The Federal Republic of Nigeria will continue to hold those responsible for the OPL 245 fraud accountable, not only to ensure the people of Nigeria benefit from this valuable resource, but also to make clear its commitment to rooting out corruption in all of its forms,” said a spokesman for the Nigerian government based in London.
Judge Marco Tremolada read out the sentence in court. The sentencing was read more than 3 years after the trial first commenced and after a total of 74 hearings. He stated that the companies and defendants had been acquitted of the charges and there was no case to be answered.
The case revolves around the payment of $1.3 billion made in April 2011 by Eni and Shell for the purchase of the OPL 245 off-shore oil field in Nigeria from Malabu Oil and Gas a company owned by former Nigerian Oil Minister, Dan Etete.
The Italian alleged that most of the $1.3billion purchase price for the license for the offshore oil field known as OPL 245 was siphoned off to politicians and middlemen including Etete. The prosecutors are calling for criminal charges against Shell and Eni and including Decalzi.
The defendants all denied any wrongdoing.
“This is a huge blow for natural resource governance and transparency in Nigeria,” said Matthew Page, associate fellow at the Chatham House Africa programme.
“The OPL 245 deal has been a multi-layered tale of corruption and malfeasance and international complicity that’s been going on for two decades.
“This judgment will continue to sting, as it is a real and visible defeat for global and Nigerian anti-corruption efforts,” he said. The defendants said the purchase price for OPL 245 was paid into a Nigerian government account and subsequent transfers were beyond their control.
