OPL 245 does not grant the right to exploit any acreage, but provides an opportunity to explore the area. This activity required significant investments – amounting to several hundred million euros – and will require further investments worth billions over a number of years to come before having any chance to proceed with full-scale oil production activities. To date, not a single oil barrel has been drilled.
The acquisition of OPL 245 Block by Shell and Eni has been the subject of incorrect and speculative interpretations since 2011. In particular, there are at least seven incorrect aspects dealt with both by NGOs - which filed petitions with the Court and the Supervisory Authorities, and by certain news media. These interpretations are intended to contest Eni’s probity and transparency. Here below, we will demonstrate, through objective and documentary evidence, that Eni acted in full compliance with the law and the company procedures.