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Nigeria case against JP Morgan over OPL 245 oil deal to go to trial
May 2002: Shell is awarded 40% OPL 245. It starts exploration and appraisal work and later signs a production sharing deal with the Nigerian National Petroleum Corporation (NNPC). Under the deal, Shell Nigeria Ultra Deep (SNUD) agrees to pay a $209 million signature bonus, which is placed in an escrow account pending a resolution to…
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