Nigeria offers 31 marginal fields in new licensing round

Diezani-Alison-Madueke 101 December 2013, Lagos – A total of 31 fields, located within different blocks owned by the Nigeria National Petroleum Corporation, NNPC, joint venture, are up on offer as the federal government begins the second Marginal Field Licensing Round in two weeks.

Disclosing this during a media briefing in Abuja yesterday, Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, said, the process which commences in two weeks with a road show by the Department of Petroleum Resources, DPR, would be followed by a three and half month of competitive bidding.

Of the 31 fields up on offer, Alison-Madueke said 16 were located onshore, while the remaining 15 were in the continental shelf.

“At this juncture, it is pertinent to state that this exercise is geared towards opening up the oil and gas sector of the industry to a wider participation with a view to creating a robust and virile industry, that will positively impact the lives and living standards of the people of Nigeria,” she said.

She added that in carrying out the exercise government was determined to ensure that proper technical and financial due diligence was done on companies indicating interest in these assets.

“Government encourages companies where possible to bid in consortia to enable the parties leverage upon each other’s strengths,” she said.

The first marginal field licensing round, announced in 2001, resulted in the allocation of 24 fields to 31 indigenous companies in 2003. Eight of the fields are presently producing, while the others are at various stages of development.
*Juliet Alohan, Leadership

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