Court restores oil firms’ operations
A Federal High Court in Lagos has restored status quo for operations for Green Energy International Limited and Lekoil Oil and Gas Investments Limited. The indigenous oil and gas firms
A Federal High Court in Lagos has restored status quo for operations for Green Energy International Limited and Lekoil Oil and Gas Investments Limited.
The indigenous oil and gas firms in a joint press statement said, “Federal High Court Restores Status Quo, Suspends Interim Administrator and Lifts Mareva Orders.”
According to the statement, “Green Energy International Limited and Lekoil Oil and Gas Investments Limited confirm that the Federal High Court sitting in Lagos has ordered that the parties maintain the status quo ante bellum — the position prior to the appointment of the Interim Administrator — pending determination of the pending applications.”
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The Court further suspended the Interim Administrator from further activity and lifted all Mareva orders affecting the companies’ bank accounts. The matter has been adjourned to 22 April 2026.
Consequently, the management authority remains with the duly constituted leadership of the companies.
All prior freezing restrictions have been lifted, according to the statement.
It also said operations continue in the ordinary course without interruption.
The companies, according to him, will continue to pursue their jurisdictional challenge and arbitration proceedings in accordance with the governing agreements.
Following the court, the operations at Otakikpo (PML 11) continue uninterrupted and remain in full compliance with applicable regulatory and contractual requirements.
