"The first is the ownership of Samsung Heavy Industries (SHI) MCI Lagos Free Trade Zone (FZE), which is a joint venture between Lagos Deep Offshore Logistics (LADOL) Group and Samsung formed to perform the Egina Floating Production Storage and Offloading (FPSO) EPC contract between Samsung and Total Upstream Nigeria.
"The second aspect is SHI MCI FZE’s sub-lease agreement with
a LADOL affiliate, Global Resources Management Limited.
"The third is SHI MCI’s operating licence as a free zone enterprise within LADOL free zone.
“We are very happy to work with SHI, not on its own terms but ours.
"...there is no court order restraining the free zone management from doing anything.
"The temporary restraining order granted by the court on July 31, 2018 was discharged by the court on August 14, 2018.
“...even if, contrary to the true position, there is such a restraining order, LADOL zone management has not violated SHI MCI FZE’s operating licence.
"We would like to clarify that Total Upstream’s contract with SHI is a lump sum contract for the engineering, procurement, supply, construction and commissioning of a Floating Production, Storage and Offloading Unit."
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