DPR shortlists 161 companies for final stage
Nigerian Department of Petroleum Resources (DPR) has shortlisted 161 companies as successful companies to advance to the next and final stage of the bid round process for 57 marginal oilfields in the country.
This was disclosed in Lagos by DPR Head of Public Affairs, Paul Osu who confirmed that the firms were selected from the over 600 companies that applied for bid pre-qualification.
”The 2020 marginal oilfield bid round process is still ongoing in line with our published timelines on DPR website and bid portal. The current status is that 161 successful companies have been shortlisted to advance to the next and final stage of the process,” Osu said.
The bid rounds was said to have began on June 1, 2020 with the DPR placing measures in place ensuring credibility of awardees and their technical, financial capability.
The objective of the 2020 marginal field bid round is said to deepen the participation of indigenous companies in the upstream segment of the industry and to provide opportunities for technical and financial partnerships for investors.
The last conducted marginal field bid rounds in the country was in 2003, and 16 of the fields now contributing not less than two per cent to the national oil and gas reserves, while bringing development to their host communities in the Niger Delta area.
Marginal fields are known oil or gas discoveries on an International Oil Company (IOC)-owned block, where there has been no activity in at least the last 10 years. With the agreement of the IOC, the DPR carves out a piece of land surrounding the discovery and this becomes a Marginal field.
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