The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it would soon close out the 2020 marginal field bid round programme.
NUPRC said it had put in place all needed machinery to bring the bid round exercise to conclusion in line with the Petroleum Industry Act 2021.
The commission’s Chief Executive Officer, Gbenga Komolafe, in a notice to participants of the programme on Tuesday, indicated that an in-house work team had been set up to deal with outstanding issues.
He listed the issues to include distilling and addressing the concerns of awardees with a view to closing out matters affecting multiple awardees per asset and formation of Special Purpose Vehicles by awardees in line with the respective letters of award.
In a statement by the commission, Komolafe called on awardees with the indicated issues to avail themselves of the resolution mechanism provided by the NUPRC in the overriding national interest.
He further said that the commission was collaborating with leaseholders to agree on transition mechanisms in line with the PIA and the aspirations of government for the marginal field bid round exercise.
According to him, the 45 days period for payment of signature bonus by successful awardees as stipulated in the Marginal Field Guidelines had lapsed.
Komolafe, however, promised those who had fully paid their signature bonuses that the commission would make sure that all applicable guidelines to ensure that they progress to the next stage of the exercise were fully implemented.
Recall that the defunct Department of Petroleum Resources had on May 31, 2021, issued letters of award to investors for the production of crude oil from 57 marginal fields.
The DPR did not disclose the exact number of firms that emerged successful for the awards at the ceremony in Abuja. It, however, called up some firm’s to receive their letters.
Among them include A.A Rano Nigeria Limited, Duchess Energy and Emadeb Energy Services Limited, Matrix Energy Limited, Shafa Exploration and Production Company Limited, Kasiva Limited, DuPaul Mainstream Company Limited and Vhelbherg Exploration and Production Development Company Limited.
The firms are to explore a total of 57 marginal fields located on land, swamp and offshore terrains and put on offer by DPR in June 2020.