This legal dispute could cost Statoil $300 million and comes on top of $700 million the Norwegian major could lose related to a separate process to re-determine equity holdings in Agbami.
The tax dispute arose in 2011 and concerns the allocation between NNPC and Statoil, operator of OML 128, of cost oil, tax oil and profit oil volumes.
NNPC claimed that Statoil lifted oil volumes that exceeded the terms of the OML 128 production sharing contract.
Statoil
