The Mini Bid Round 2022 has been launched by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for fresh crude oil exploration and drilling operations in the offshore blocks.
On Wednesday in Abuja, Mr. Gbenga Komolafe, the Chief Executive (CCE) of the Commission, said this.
Komolafe said that the bid round was the first of several that would be used to develop possible oil basins.
He said that the bid process would be governed by the Petroleum Industry Act of 2021 (PIA), which has better legal and regulatory structures.
Komolafe also said that the goal of the legal and regulatory frameworks is to get investors to keep putting money into the exploration efforts in the region.
“The NUPRC, the statutory agency charged with maintaining compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum business, will administer the mini-bid round in accordance with the terms of the PIA.”
The National Data Repository of NUPRC and its many customer partners are excited and ready to support the Mini Bid Round with high-quality datasets.
The blocks have detailed 2D and 3D seismic data coverage, including multi-beam and analog data.
Prospective bidders can also access a high-quality 3D MegaSurveyPlus reprocessed pre-stack time migration (completed in October 2022), complete with angle stacks and gathers.
Access to links to all data is possible through the official NUPRC webpage (br.nuprc.gov.ng).
Komolafe says that the portal also has full instructions for applicants and information about how the bid round works, such as the requirements for registration and prequalification.
Komolafe says that the Mini Bid Round is a market-driven program that will follow a clear and competitive bidding process to bring in qualified third-party investors from all over the world.
He said that investors need to know how to work in a deep-water environment and be able to do so.
Komolafe added that the mini-bid round aims to build on the achievements of the previous bid round, which took place in April 2007.
During the April 2007 bid round, 45 blocks were put up for bid from the interior basins of Anambra, Benue, and Chad, the Niger Delta Continental Shelf, the Onshore Niger Delta, and Deep Offshore.
“The 2007 bid round generated enormous interest and participation, as well as the associated revenue, making the exercise a success.”It was held under a new regulatory environment (the Petroleum Act, 1969).
““Seven offshore blocks with a combined size of over 6,700 km2 and water depths ranging from 1,150 m to 3,100 m are up for bid in this year’s mini-bid round.
“The Mini-Bid Round’s success will ensure that all stakeholders get the most out of the nation’s resources while paying particular attention to overall environmental, social, and governance (ESG) factors and the reduction of carbon emissions.”
He said that a pre-bid conference would be held on January 16, 2023, so that possible candidates could find out about the requirements and how the bid round works.
Komolafe stated that pre-qualification applications from interested companies must be submitted by January 31, 2023. (NAN)
