NUPRC Extends Pre-qualification, Sell On Additional 17 Deep Offshore Oil Assets
In an update on the latest licencing round, the Gbenga Komolafe-led organisation stated that it had extended the date for pre-qualification from June 25 to July 5 this year for 12 oil blocks and seven deep offshore assets in the 2024 marginal licencing round.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday announced the commission’s commitment to derive value from the country’s abundant oil and gas reserves and increase production.
The commission further said it’s working assiduously with multi-client companies to undertake more exploratory activities to acquire more data to foster and encourage further investment in the Nigerian upstream sector.
According to the NUPRC, President Ahmed Bola Tinubu has approved attractive fiscal regimes and also minimised entry fees for both licencing rounds by putting a cap on the signature bonus payable for award of the acreages.
“Consequently, it is necessary to ensure that the same bid criteria, in addition to the uniform signature bonus criteria, are applicable for both licencing rounds, to promote transparency and provide a level playing ground for all bidders.
“Consequently, all blocks in the 2022/23 and 2024 Licencing Rounds are available to all interested investors on br.nuprc.gov.ng and br2024.nuprc.gov.ng respectively, and the 2022/23 mini bid round registration phase is reopened to new applicants.
“Registration/submission of pre-qualification documents” Komolafe added “which was initially scheduled to close on 25 June 2024 has been extended by 10 days and will now close on 5 July 2024.
“Data access/ data purchase/evaluation/bid preparation and submission which was initially scheduled to open on 4 July 2024 and close on 29/11/24 will now start on 8 July 2024 and close on 29/11/24 as previously scheduled,” the NUPRC said.