NUPRC opens bids for 7 offshore blocks

ebc petroleum zion limited x
ebc petroleum zion limited x

From Uche Usim, Abuja

 

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced 2022 Mini Bid Round, where seven offshore blocks covering an area of 

approximately 6,700 sq km in water depths of 1,150m to 3,100m have been put on offer.

Gbenga Komolafe, the

Commission’s Chief Executive in a statement said the success of the Mini Bid Round will ensure all stakeholders gain value from

the country’s resources, whilst paying close attention to reduction in carbon emissions, as well as overall environmental, social and governance (ESG)

considerations.

He added that a dedicated programme portal for the Mini Bid Round has been published by NUPRC which provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants. He added that a pre-bid conference is scheduled for 16th January to provide potential applicants with an opportunity to ask questions they may have concerning the Mini Bid Round

process and requirements after which interested companies will be invited to submit their pre-qualification applications by 31st January 2023.

“NUPRC will continue to provide further details and roadmap for this international competitive Mini Bid Round in due course.

“Round is aimed at further development of the deep offshore acreages which will be held in accordance with the Petroleum Industry Act (PIA), 2021 with its enhanced legal and regulatory frameworks that seeks to

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encourage new investors and investments into the next phase of exploration

in this region.

“The Mini Bid Round will be managed by the NUPRC, in line with the provisions

of the PIA, as the statutory body responsible for ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream

petroleum industry.

“The National Data Repository (NDR) of NUPRC and our multi-client partners

are delighted and ready to support the Mini Bid Round underpinned by high-quality datasets. The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analog data. Additionally, a remarkable quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022), with angle stacks and gathers is also available to prospective bidders. Links to all data can be accessed via the dedicated NUPRC portal.

The Mini Bid Round is a market-driven programme and will follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world that have the capability and proficiency in operating in deepwater environments”, he explained.

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