It seems a truce will soon be called in the ongoing oilfield dispute between Italian oil company, Eni and the Nigerian government as the oil giant has called for a temporary suspension of the arbitration against the federal government.
This is to pave the way for negotiation to convert the license from prospecting to one for production, sources with direct knowledge of the matter told Reuters.
Eni, yesterday, confirmed the suspension of the arbitration at the World Bank’s dispute settlement body regarding the OPL 245 oilfield, considered to be potentially the biggest oil block in the country.
