The NUPRC chief reports that the mini-bid round is moving along according to the bid round timeline, which has been published as part of the bid round guidelines.
The change to the bid round schedule for 2022–2023 has been authorised, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Gbenga Komolafe, the Commission Chief Executive (CCE) of the NUPRC, stated in a statement on Saturday that the clearance is intended to allay concerns raised by both domestic and foreign investors over the schedule’s proximity to the end date of the current administration in the country.
Komolafe continued, “The action is intended to increase trust in the openness and consistency of the 2022/2023 Deep Offshore Oil Block Mini-bid Round procedure.
According to a statement, “Following approval by President Buhari in his capacity as the Minister of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revised the Deep Offshore Oil Block Bid Round Schedule by extending the deadline for the submission of Technical/Commercial bids to May 19, 2023, as well as the timeline for concluding activities of contract negotiations and signing between July 3 and 28, 2023.”
Komolafe claims that the Mini-bid Round for the 2022–23 Deep Offshore Oil Block is proceeding in accordance with the timeline for the round, which is included in the guidelines for the round.
The technical/commercial bid submission and the negotiation and signing of the contract with the minister are still open tasks for the exercise’s end, the official continued.
The technical and commercial bid submission process includes data access, acquisition, evaluation, bid preparation, and submission; bid evaluation and results publishing; as well as commercial bid conference and winner announcement.
The CCE reaffirmed the commission’s unwavering commitment to conducting the bid round in a way that ensures the accomplishment of the exercise’s goals and emphasised that participation is both vigorous and advantageous to important stakeholders.
