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Events / Political / Nigeria settles OPL 245 dispute
Domestic dispute settlement

Nigeria settles OPL 245 dispute

Analysis based on 12 articles · First reported Mar 05, 2026 · Last updated Mar 06, 2026

Sentiment
70
Attention
6
Articles
12
Market Impact
General
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Market Impact

The resolution of the OPL 245 dispute is expected to significantly boost Nigeria's oil production by 150,000 barrels per day, positively impacting global oil supply and prices. It also signals a more stable investment environment in Nigeria, potentially attracting further foreign direct investment into its energy sector.

Oil and Gas Energy
Event Summary

President Bola Tinubu announced the successful resolution of the 15-year-old OPL 245 dispute between Nigeria, Eni, and Eni — Nigerian Agip Exploration. This landmark settlement, signed in Abuja, clears the path for the Final Investment Decision on the Zabazaba–Etan development, a project expected to add approximately 150,000 barrels per day to Nigeria's oil production capacity. Bola Tinubu described the agreement as a strategic milestone in Nigeria's economic reform agenda, aimed at restoring investor confidence and ensuring sustainable value from Nigeria's natural resources. The settlement is seen as a significant improvement on the 2011 Resolution Agreement, reflecting the policy framework of the Petroleum Industry Act and broader fiscal and governance reforms. This resolution removes a prominent legacy risk in Nigeria's upstream sector, reinforcing its commitment to predictable regulation and transparent governance, and is part of wider reforms since 2023 to enhance Nigeria's competitiveness in global energy markets.

Entities Involved
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Nigeria
Nigeria is the host nation for the OPL 245 deepwater block. The resolution of this long-standing dispute is expected to significantly boost Nigeria's oil production capacity by 150,000 barrels per day, attract foreign investment, and strengthen its long-term energy outlook.
Importance 100.0 Sentiment 75.0
stock
Eni
Eni is one of the key parties in the OPL 245 dispute. The settlement agreement provides clarity and stability for Eni to proceed with major deepwater investments, particularly the Zabazaba–Etan development, which will add significantly to Nigeria's oil production.
Importance 90.0 Sentiment 60.0
per
Bola Tinubu
Bola Tinubu, as the President of Nigeria, oversaw and announced the successful resolution of the OPL 245 dispute, which is a strategic milestone in Nigeria's economic reform agenda. This action is expected to attract significant investment into Nigeria's oil and gas sector.
Importance 90.0 Sentiment 70.0
subs
Eni — Nigerian Agip Exploration
Eni — Nigerian Agip Exploration, a subsidiary of Eni, was a key party in the OPL 245 dispute. The resolution allows it to move forward with the Zabazaba–Etan development, contributing to Nigeria's oil production.
Importance 80.0 Sentiment 60.0
per
Claudio Descalzi
Claudio Descalzi, CEO of Eni, attended the meeting where the settlement was announced, representing Eni's commitment to the agreement.
Importance 40.0 Sentiment 50.0
per
Olu Arowolo-Verheijen
Olu Arowolo-Verheijen, Special Adviser to Bola Tinubu on Energy, provided insights into the agreement, highlighting its improvements and alignment with the Petroleum Industry Act.
Importance 40.0 Sentiment 50.0
govactor
Nigeria — Nigerian Upstream Petroleum Regulatory Commission
The Nigeria — Nigerian Upstream Petroleum Regulatory Commission was commended by Bola Tinubu for its contribution to achieving the settlement, reinforcing its role in predictable regulation.
Importance 30.0 Sentiment 50.0
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NNPC
NNPC was commended by Bola Tinubu for its contribution to achieving the settlement.
Importance 30.0 Sentiment 50.0
Relationships
Nigeria related ↔ Eni
Nigeria related ↔ Bola Tinubu
Nigeria related ↔ Olu Arowolo-Verheijen
Nigeria related ↔ Nigeria — Nigerian Upstream Petroleum Regulatory Commission
Nigeria related ↔ NNPC
Eni related ↔ Bola Tinubu
Eni related ↔ NNPC
Bola Tinubu related ↔ Olu Arowolo-Verheijen
Bola Tinubu related ↔ Nigeria — Nigerian Upstream Petroleum Regulatory Commission
Bola Tinubu related ↔ NNPC
Olu Arowolo-Verheijen related ↔ NNPC
Nigeria — Nigerian Upstream Petroleum Regulatory Commission related ↔ NNPC
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