The Nigerian National Petroleum Company Limited (NNPCL) has recorded a major legal victory after an arbitration tribunal ordered TotalEnergies EP Nigeria Limited to pay $285.2 million over excess shared oil lifting. The ruling, delivered on November 19, 2025, stems from a long-running dispute under the Amenam/Kpono Carry Agreement signed on June 7, 2000.
The arbitration, which commenced in 2015, examined whether TotalEnergies had the right to continue lifting oil after NNPCL had fully repaid all carry costs. Findings showed that NNPCL completed repayment of the $697.2 million capital cost by December 2007 and also settled $281 million in interest.
The tribunal held that TotalEnergies had no further oil lifting rights and ordered it to refund the excess, alongside legal costs. TotalEnergies has since challenged the award in court, while NNPCL seeks enforcement.
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