FG puts out 57 marginal fields for 2020 bid rounds

0 229

The Department of Petroleum Resources (DPR) on Monday announced the commencement of the 2020 marginal fields bid rounds.

In an official release by the regulatory agency, it stated that a total of 57 fields located on land, swamp and shallow offshore terrains are on offer.

The bid round exercise is open to indigenous companies and investors interested in participating in exploration and production (E&P) business in Nigeria, it stated.

Adding that the exercise which will be conducted electronically, will include expression of interest/registration, pre-qualification, technical and commercial bid submission and bid evaluation.

“The Department of Petroleum Resources, DPR on behalf of the Federal Government of Nigeria is pleased to announce the commencement of 2020 Marginal Field Bid Round exercise.

“The Bid Round exercise is open to indigenous companies and investors interested in participating in Exploration and Production (E&P) business in Nigeria.

“A total of 57 fields located on land, swamp and shallow offshore terrains are on offer”, DPR stated.

According to the agency, the process will attract non-refundable chargeable fees as follows, Application fee of N2 million per field, Bid Processing Fee of N3million per field, Data prying fee of $15,000 per field, Data Leasing fee of $25,000 per field, Competent Persons Report of $50,000 and $25,000 for Fields Specific Report.

At the official exchange rate of $360/$1, the 57 oil fields on offer gives N2,364,800,000 including the N5 million payment.

The agency added that all application fees and processing fees are expected to be paid into the Treasury Single Account (TSA) while Signature Bonuses are expected to be paid into the Federation Account.

It also stated that fees for data leasing, data prying, Competent Persons Report (CPR) and Field Specific Report should be paid into the National Data Repository (NDR) account for repayment. According to the approved guidelines, applicants must show evidence of technical and managerial capability and must also demonstrate the ability to fully meet the objective of undertaking expeditious and efficient development of a Marginal Field.

The agency added that all application fees and processing fees are expected to be paid into the Treasury Single Account (TSA) while Signature Bonuses are expected to be paid into the Federation Account.

“Interested parties are invited to visit the DPR dedicated portal for the exercise; marginal.dpr.gov.ng to access the Guidelines for the Award and Operations of Marginal Fields in Nigeria, 2020, and the requirements for participation,” DPR stated.

Peace Obi


Get more news like this directly in your inbox

Leave A Reply

Your email address will not be published.