By Ayomide Otitoju
The Nigerian National Petroleum Company Limited (NNPC) has described the resolution of the long-standing dispute over Oil Prospecting Licence (OPL) 245 as a “major milestone” that will unlock the development of the Zabazaba–Etan deepwater project.
In a statement on Saturday, Group Chief Executive Officer Bayo Ojulari said advancing the project could increase Nigeria’s crude oil output by around 150,000 barrels per day (bpd), strengthening national energy security and economic resilience.
The resolution follows a settlement agreement announced on March 5 by the Presidency of Nigeria Eni, and Nigerian Agip Exploration Limited (NAEL). The agreement ended a dispute spanning more than 15 years, restoring clarity and stability to one of Nigeria’s most commercially promising deepwater blocks.
Ojulari said, “We are honoured that President Bola Ahmed Tinubu GCFR entrusted NNPC with supporting the resolution of the long-standing OPL 245 dispute. This clears the path for the development of one of Nigeria’s most strategic deepwater assets — the Zabazaba–Etan project. Progressing this development could add approximately 150,000 barrels per day to Nigeria’s production.”
The Presidency highlighted that the agreement signals to global investors Nigeria’s readiness to address legacy issues transparently. The settlement was finalised in Abuja at a meeting attended by top executives from Eni, NAEL, and the Presidential Special Adviser on Energy, Olu Verheijen.
Ojulari added that the achievement underscores the value of collaboration, persistence, and shared determination to utilise Nigeria’s energy resources responsibly for national benefit.
With the dispute now resolved, the Zabazaba–Etan project is poised to become a key contributor to Nigeria’s deepwater oil production, advancing both commercial and strategic interests.
