The Nigerian National Petroleum Corporation said on Wednesday that its litigation team had saved billions of dollars in liabilities .
The NNPC disclosed this while announcing that the team had emerged the ‘ Leading Case Counsel Team ’ of the 2020 Africa Arbitration Awards .
A statement by the corporation ’ s Group General Manager , Group Public Affairs Division , Dr Kennie Obateru , said the award was given to the NNPC Litigation Team in recognition of its performance at the 8 th edition of the East African International Arbitration Conference held in Nairobi , Kenya , recently .
It said the team gave a presentation at the conference on the challenges and lessons learnt from arbitrations and the successes recorded .
The statement said , “ Among the successful arbitration cases showcased by the NNPC Legal Team at the conference were the IPCO (Nigeria) Vs . NNPC in respect of the dispute over the Bonny Export Terminal Project in which $ 367 .5 m was saved after 13 years of litigation and ESSO E & P Nigeria Limited Vs . NNPC in respect of the dispute over the interpretation of the Production Sharing Contract covering Oil Prospecting Licence 209 / Oil Mining Lease 133 in which the enforcement of $ 2 . 7 bn claim was dismissed.
“ Other recent arbitration cases presented at the conference include : ESSO & Others Vs . NNPC in respect of alleged breaches in interpretation and implementation of the PSC covering OPL 222 / OML 138 with over $ 380 . 141 m saved and the Atlantic Energy Group vs. NPDC in respect of allegation of wrongful termination of Strategic Alliance Agreements over eight OMLs resulting in the award of $ 1 . 6 bn in favour of NPDC. ”