Seven to Protect its Rights under the SAA with NPDC

Source: www.gulfoilandgas.com 3/20/2017, Location: Africa

Seven Energy Finance Limited, with its parent company Seven Energy International Limited (Seven Energy), the leading integrated gas company in south east Nigeria, with upstream oil and gas interests in the region, has taken legal steps to protect its rights under the Strategic Alliance Agreement between its wholly owned subsidiary, Seven Exploration & Production Limited (SEPL) and Nigerian Petroleum Development Company Limited (NPDC) relating to OMLs 4, 38 and 41 (the “SAA”).

On 7 February 2017 Seven Energy announced that it had received notice from NPDC of its intention to terminate the SAA. Seven Energy has since taken legal steps to protect its rights, including under the SAA, by applying for injunctive relief in the Nigerian courts and arbitration in accordance with the dispute resolution process under the SAA. Notwithstanding the pendency of the legal proceedings, Seven Energy and NPDC continue to engage in good faith to resolve the dispute amicably.

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Related Categories: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 

Related Articles: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 


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