The Federal High court in Abuja has reversed its earlier ruling mandating the oil companies to temporarily return the OPL 245 to the Nigerian government.
And it has now been returned to multinational oil companies; Shell and ENI.
The Economic and Financial Crimes Commission was given the order in January for the interim forfeiture of the oil block to the federal government.
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But, Shell and ENI approached the court with an application challenging the ruling.
They contended that the rights of parties to fair hearing was not followed and prayed the court to reverse the order.
Justice John Tsoho then reversed the forfeiture order, and also refused the application of Malabu Oil and Gas, to join the matter.
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