Appeal Court Rules in Favour of Abebe, Orders Statoil to Pay $ 25 million
A Court of Appeal sitting in Lagos has ordered Statoil to pay John Abebe, brother-in-law to former President Obasanjo, US$ 25 million for consultancy services his company, Inducon rendered in securing lucrative upstream deals.
Abebe had earlier secured a ruling against Statoil on December 6, 2010 when Justice Charles Archibong ruled in his favour, however Statoil appealed the ruling.
Abebe claims Statoil agreed to pay him 1.5% of its 18.9% stake in Agbami oil field as well as from its interests in OMLs 128 and 129. However Statoil claims it has already compensated Mr. Abebe with “full remuneration” and denies the consultants profit interest claims were ever a part of the original deal.
An independent investigation in 2004 concluded that “Statoil has engaged consultants… on the basis of their personal relationships and knowledge of the ruling government in Nigeria”, according to Norwegian business daily DN.
Statoil has disagreed with the ruling of the appeal court and have indicated their willingness to have the matter heard by the Supreme Court.
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