Govt opens bid round for 31 marginal oil fields

The Federal Government has announced the opening of the second marginal oil field licensing round, promising transparency and accountability in the process.

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who declared the bid round open at a news conference in Abuja on Thursday, said it was aimed at deepening the participation of indigenous oil companies in the upstream sector of the oil and gas industry.

This, she said, was also aimed at generally increasing exploration and production activities in the oil and gas sector.
Giving details of the licensing round, Alison-Madueke stated that a total of 31 fields were on offer with 16 of them located onshore, while the remaining 15 were in the continental shelf.

She said the Federal Government was committed to transparency in the bid process and would encourage companies interested in the assets to form a consortia that would enable them to leverage upon each other’s strengths.

She said, “Over the next two weeks, the Department of Petroleum Resources will undertake a road show in different parts of the country about the programme. This will be followed by a three-and-a-half months of competitive bidding process in line with the Federal Government’s commitment to openness and transparency in the conduct of business activities in the country.