Equinor says it wins Nigerian case over Agbami oilfield funds

LAGOS: Nigeria's Supreme Court ruled in favour of Norwegian oil company Equinor in a long-running case over profit from its stake in the Agbami oilfield, a company spokesman said on Friday.

The ruling ends legal proceedings, spokesman Erik Haaland said.

The court ruled that the lower courts did not have jurisdiction.

"We are pleased with this decision, which is in line with our position as well," Haaland said.

Former consultant John Abebe was seeking 1.5% of the profit from Equinor's 20.21% stake in the 240,000 barrel per day Agbami field.

Abebe said he was not paid for helping the company secure licences for Nigerian oilfields. A court in 2010 ordered Equinor to place revenue from the field, millions of dollars a day, into a specific account in Nigeria. Equinor had lost earlier appeals of the ruling.

Reuters could not immediately reach Abebe for comment. No-one at the court was immediately available to comment.

Abebe helped Statoil, as Equinor was formerly known, to secure licences for Nigerian oilfields between 1991 and 1999 and was on the board of Statoil's local unit. Equinor had said it already paid him for his services and that it had no agreement to give him 1.5% of its profit.

Haaland said the company was working with its lawyers to determine next steps for Agbami and its proceeds.