The Federal Government of Nigeria has announced date for the presentation Petroleum Prospecting Licences of 57 marginal oil fields to investors.
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the investors would be presented with their licenses on Tuesday, June 28.
This was disclosed by the NUPRC Chief Executive, Gbenga Komolafe over the weekend.
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Komolafe said the move is “in fulfillment of the promise made early this year, the NUPRC will on Tuesday in Abuja, issue Petroleum Prospecting Licences to successful awardees of marginal fields in the 2020 bid round, pursuant to the provisions of the Petroleum Industry Act 2021.
“The Commission had in March this year informed all participants in the 2020 marginal field bid round programme that it had put all necessary machinery in place to progress the bid round exercise to conclusion in line with the PIA 2021”.
“These will mark the conclusion of some of the most urgent and critical tasks inherited by the commission when it was inaugurated in October 2021, after the signing into law of the PIA 2021,” he stated.
DAILY REPORT recalls that the now defunct Department of Petroleum Resources had on May 31, 2021, issued award letters to investors to enable them produce crude oil from 57 marginal fields.
However, the NUPRC in January, announced 128 successful awardees during the bid round and had made either complete or part payments for signature bonuses.
The commission said 33 awardees failed to make payments during the 45 days bidding window to secure required signature bonuses for the oil fields, thereby losing their awards to suitably qualified reserve bidders.
