Eni, the parent company of Nigerian Agip Oil Company (NAOC), says it will lift force majeure on expected oil output at its Brass terminal in Yenagoa, Bayelsa state.
Eni had cut oil and gas exports from its Brass export terminal.
According to the company, the new development follows the completion of repairs on the Ogoda/Brass 24 oil pipeline at Okparatubo, which was hit by a blast on March 5.
In a statement made available to TheCable on Tuesday, the Italian energy firm said the blast was caused by third-party interference.
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Force majeure is a clause that allows a company to skip contractual obligations following issues beyond its control.
“The force majeure is expected to be lifted by this week,” Eni said in a statement.
“Repairs on the Ogoda/Brass 24″ oil pipeline at Okparatubo (Nembe Local Government Area, Bayelsa State), which was hit by blast on March 5 caused by a third-party interference, have been completed.”
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The statement added that the declaration led to a shortfall of 25,000 barrels of crude oil and 13 million standard cubic metres of gas per day from the terminal.
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