In Abuja, Nigeria’s President Bola Ahmed Tinubu and Eni CEO Claudio Descalzi ushered in a new phase of energy cooperation between the African country and the Italian company. The meeting, held on March 5, 2026, marks the relaunch of Nigeria’s offshore development, thanks to the definitive conversion of the former and controversial OPL 245 license.
The end of the OPL 245 litigation
One of the key points of the meeting was the transformation of Oil Prospecting License 245, also known as the “Malabu Block.” Through an agreement between the federal government and Eni, all legal claims associated with the case were resolved, allowing the international arbitration proceedings at ICSID to be suspended and, in turn, enabling the license to be converted into two Petroleum Mining Leases (PML 102 and 103) and two Petroleum Prospecting Leases (PPL 2011 and 2012), granted to Nigerian Agip Exploration (an Eni subsidiary) as operator.
This progress unlocks the area’s energy potential in partnership with Nigerian National Petroleum Company Limited (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCO).
Zabazaba and Etan, Eni’s new development focus
With the signing of the Project Agreements, the development of the Zabazaba and Etan fields, located in deep waters, gets underway. They are estimated to contain approximately 500 million barrels of recoverable reserves. The project will use a floating production unit (FPSO) with a capacity of 150,000 barrels per day, and the associated gas—up to 200 million cubic feet per day—will be routed through Nigeria LNG, thereby strengthening the country’s gas exports.
The PPL 2011 and 2012 exploration licenses also offer high potential, with accelerated development plans in synergy with the future infrastructure of the Zabazaba-Etan complex.
Offshore expansion and new stake in OML 118
During the meeting, Tinubu and Descalzi also discussed other Eni investments in Nigeria, such as the Abo and Bonga fields and the company’s stake in Nigeria LNG, where it holds 10.4% of the shares. In line with its long-term strategy, Eni recently expanded its offshore presence by acquiring an additional stake in the OML 118 block, reaching 15%.
This expansion reaffirms Eni’s commitment to the country’s energy development, while also seeking to optimize its offshore assets.
A relationship spanning more than 60 years of operations
With a presence in Nigeria since 1962, Eni has diversified its activities in the country, ranging from exploration and hydrocarbon production to power generation and community development projects. Its current production stands at around 55,000 barrels of oil equivalent per day.
In addition to its technical and commercial focus, the company supports social programs covering education, healthcare, access to energy, and local infrastructure.
Outlook: Nigeria strengthens its appeal for investment
The resolution of long-standing disputes such as the OPL 245 block, combined with openness to new deepwater developments, strengthens Nigeria’s image as an attractive destination for energy investment.
With this new chapter, Eni consolidates its role as a strategic partner of the African country, while preparing to develop some of the most promising offshore fields in the Gulf of Guinea.
Source: Eni