By Prince Okafor

A Federal High Court, sitting in Lagos, has granted an order of interim injunction restraining Optimum Petroleum from taking further steps to transfer or extinguish Lekoil Nigeria Limited’s participating interest in the Oil Prospecting Lease, OPL 310.

Lekoil resorted to litigation after numerous efforts at reaching an agreement with Optimum Petroleum, with regard to securing Lekoil’s 40 per cent participating interest in OPL 310.

In the suit, Lekoil prayed the court to grant an order of interim injunction restraining Optimum Petroleum from taking further steps to expropriate, appropriate, transfer or extinguish its rights and interests in the 40 per cent participating interest OPL 310.

The oil and gas exploration and production company with a focus on Nigeria and West Africa, also pray that Optimum is restrained from making representations before any regulatory authority that the rights of Lekoil in the 22.86 per cent participating interests have reverted to Optimum or any other authority or person.

Reacting to the court’s injunction, Lekoil’s Chief Executive Officer, said: “We are pleased with the decision of the Federal High Court in Lagos to grant the injunction in our favour.