The Department of Petroleum Resources, DPR, says it has shortlisted 161 successful companies for the final stage of the bid round targeted at selling Nigeria’s 57 marginal oilfields

The Department of Petroleum Resources, DPR, says it has shortlisted 161 successful companies for the final stage of the bid round targeted at selling Nigeria’s 57 marginal oilfields.

Head, Public Affairs, DPR, Mr. Paul Osu, who disclosed this in Lagos, noted that the firms were selected from the over 600 companies that applied for pre-qualification.

He said the 2020 marginal oilfield bid round process is still ongoing in line with published timelines on DPR website and bid portal.

According to him, the bid rounds began on June 1, and the DPR had put measures in place to ensure that the awardees would be credible investors with technical and financial capability.

He said the objective of the 2020 marginal field bid round is to deepen the participation of indigenous companies in the upstream segment of the industry and provide opportunities for technical and financial partnerships for investors. Osu said Nigeria last conducted marginal field bid rounds in 2003, with 16 of the fields now contributing two per cent to the national oil and gas reserves, while bringing development to their host communities in the Niger Delta.



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