Pan Petroleum AJE Ltd v Yinka Folawiyo Petroleum Co Ltd and Ors 2017 EWHC 1102 Comm - Judgement - 12 May 2017
Country
Year
2017
Summary
The parties are concerned with an Oil Mining Lease (No 113) offshore from the Federal Republic of Nigeria. Their relations are governed in particular by a Joint Operating Agreement dated 21 September 2007. Operations in the field are said currently to be loss making, with corresponding pressures for the parties. Wells Aje-4 and Aje-5 are operational. The parties are in dispute over whether development of wells Aje-6 and Aje-7 has been properly approved. Development of those wells will involve more cash calls on the parties....