Green Energy International Ltd, Lekoil Nigeria Ltd Clarify Reports On Commercial Dispute With A Service Provider.

Green Energy International Limited (“Green Energy”) and Lekoil Nigeria Limited (“Lekoil Nigeria”) have acknowledged recent media reports concerning litigation arising from a commercial dispute with a service provider.

While giving clarification on the report through a joint press statement on tuesday sent to energynewsstream.com, the two energy companies noted that the issue relates to a contractual claim subject to dispute resolution through arbitration in accordance with the parties’ agreement. The statement further noted that the underlying dispute in question is properly before an arbitral tribunal, and the sums referenced in certain media reports are unliquidated, as they remain under review and audit pursuant to the parties’ contractual arrangements.

Both companies also noted that Prior to the reported interim application, Green Energy and Lekoil Nigeria had already commenced proceedings before the Federal High Court in Suit No. FHC/L/CS/225/26, including an application for an anti-suit injunction to protect the agreed arbitration process. These processes were duly filed and served on H-PTP before the subsequent court proceedings referenced in media reports.

“As the matter is under active judicial and arbitral consideration, it would be inappropriate to comment further at this stage” The statement further declared

“Both Green Energy and Lekoil Nigeria continue to operate their assets safely and in full compliance with applicable regulatory and contractual obligations. There has been no disruption to operations”.

The two energy companies while assuring quality service delivery said it will vigorously pursue their rights through the appropriate legal and arbitral processes, noting that the companies also reserve all rights in respect of any inaccurate or defamatory statements published in connection with this matter.