The Nation Newspaper NUPRC begins 2024 bid round for 12 oil blocks
on Monday, May 13, announced its commencement of the 2024 Nigeria Petroleum Licensing Round and resumption of 2022/2023 with 12 oil blocks for offer.
On the number of blocks for the offer, Komolafe noted: “We have identified twelve blocks that cut across deep offshore, shallow water and onshore terrains to be made available to interested investors.” Commenting on the offer of 12 blocks, he said in line with the objectives of the licensing round, the offer comprises a diverse range of exploration prospects and discoveries with varying technical and operational preferences.
NUPRC, he said, is committed to ensuring that exploration activities are conducted in a manner that minimizes carbon emissions and mitigates environmental impact.The NUPRC boss noted that by incorporating ESG criteria into the licensing process, stakeholders can contribute to sustainable development while harnessing the nation’s natural resources responsibly.
Komolafe also noted that the 2024 licensing Round is the second in a series of bid rounds and will be managed by NUPRC under the provisions of the Petroleum Industry Act 2021 .
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