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Marginal Oilfields: DPR Chooses June 19 for Final Submission of Bids

Nigeria has chosen June 19 2020 as final date for the submission of bids for sales of marginal oilfields, the Department of Petroleum Resources has said.

By this new deadline, applicants are to submit their bids on or before Friday June 19 2020. The DPR launched the first marginal field award round in nearly 20 years on June 1. Applicants initially had until June 14 to register, but the timeline has been moved to June 21. The DPR, the nation’s petroleum regulator, did not give a reason for the extension.

While launching the bid round, the DPR said “A total of 57 fields located on land, swamp and shallow offshore terrains are on offer.”
Marginal fields are smaller oil blocks that are typically developed by indigenous companies. The new licensing round is the first marginal field round since 2002, which the country hopes will boost oil output and bring in much-needed revenues from fees associated with the licences.
Nigeria revoked the existing licenses on the fields so that they could be put into the new licensing round.

The licensing round was announced even though judges in Lagos have blocked Nigeria’s efforts to revoke two existing oilfield licences, court documents seen by Reuters showed. The Ororo field, OML 95, and the Dawes Island Marginal Oil Field, formerly called OML 54, were among 11 licences revoked by the Department of Petroleum Resources in April. All 11 were set to be included in the marginal field licensing round.

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