The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says winners of the mini-bid for the deep offshore licensing round will be announced in the next four months. Gbenga Komolafe, chief executive
January 17, 2023 10:20 AM
The theme of the conference was: ‘growing upstream investment in Nigeria through licensing round: the bid process and opportunities’.the commencement of the 2022 mini-bid round — 15 years after the last bid round.Seven offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m were put on offer.
He said the pre-bid conference is a clarion call to technically and financially capable local and foreign investors to invest and take advantage of the generous regulatory and fiscal regime in Nigeria’s upstream sector. “Rest assured that the entire bid process pursuant to the provisions of the PIA 2021 and attendant regulations will be fair, transparent, and competitive in line with best practices,” he said.
“In addition, the mini-bid round presents us with the opportunity to reinforce Nigeria’s commitment to openness and transparency in line with the principles of the Extractive Industry Transparency Initiative ,” he said.the licensing round process was formulated in cognisance of global sustainability goals.
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