57 successful investors get fringe oilfield licenses on Tuesday – FG

The Federal Government announced on Saturday that successful investors in Nigeria’s 57 marginal oilfields from the 2022 tender would secure their various oil prospecting licenses on Tuesday.

On May 31, 2021, the former Department of Petroleum Resources issued letters of award to investors for the production of crude oil from 57 marginal fields.

In January this year, the Nigerian Upstream Petroleum Regulatory Commission announced that a total of 128 winners had been shortlisted in the tender and had made full and partial payments for signature bonuses in the oil fields.

He also revealed at the time that 33 winners failed to make payments during the 45-day window given to successful bidders to pay required oilfield signing bonuses and therefore lost their awards to bidders from duly qualified reserves.

Providing updates on the tender in Abuja on Saturday, NUPRC Director General Gbenga Komolafe announced that the winners would get their licenses by Tuesday.

He said, “As per the promise made earlier this year, the NUPRC will on Tuesday issue Oil Exploration Licenses in Abuja to the winners of the Marginal Fields in the 2020 Tender as per the provisions of the Abuja Act. 2021 on the oil industry.

“He will also unveil the Host Community Development Trust implementation model for commencement of the provisions of Section 235 of the PIA, 2021, to positively impact unrest in communities of reception.”

Komolafe said the implementation of the development trust would ensure transparent operations, build investor confidence and provide an enabling environment for the sustainable enhancement of the country’s hydrocarbon resources.

“These will mark the conclusion of some of the most urgent and critical tasks the commission inherited when it was inaugurated in October 2021, following the enactment of the 2021 PIA,” he said.

In March this year, the commission had informed all participants in the 2020 Marginal Land Bidding Round program that it had put in place all the necessary mechanisms to move the 2020 marginal land bidding round exercise forward. tender until its conclusion in accordance with the PIA 2021.

As part of this resolution, the commission has formed an internal task force to distill and address awardee concerns with a view to resolving issues affecting multiple awardees per asset and the training of special purpose vehicles by awardees in accordance with the letters d respective allocation. award.

“The winners were therefore advised to avail themselves of the resolution mechanism provided by the commission in the overriding national interest,” Komolafe said.

He added, “Successful coordination and problem solving has resulted in the emergence of the winners who will be presented with the licenses on Tuesday.”

Denise W. Whigham