Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Energy

NUPRC commences 2022 mini-bid round

Omono OkonkwobyOmono Okonkwo
4 weeks ago
in Energy, Industries
Engr. Gbenga Komolafe, FNSE

Commission Chief Executive, Engr. Gbenga Komolafe, FNSE

Share on FacebookShare on TwitterShare on Linkedin

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of its 2022 mini-bid round.

This is according to a press statement signed by NUPRC Chief Executive Officer, Gbenga Komolafe, on Tuesday, January 10.

In the statement, Komolafe explained that the mini-bid round, which presents seven blocks on offer, is an opportunity to spur new exploration and drilling activities in Nigeria’s prospective deep waters.

The NUPRC will manage the mini-bid round process in line with the provisions of the Petroleum Industry Act (PIA), the 2022 Petroleum Licensing Round Regulations, and other enabling laws.

He added that the mini-bid round is a market-driven programme that will follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world.

Details on the seven blocks: According to NUPRC, the seven blocks on offer, are located within the Gulf of Guinea, offshore Nigeria at approximately 150km southeast of Lagos Port ranging from 1000 meters to 2000 meters in water depth.

Blocks PPL-300-DO, PPL-301-DO, and PPL-302-DO are located in the Nigerian Transform Margin area. Blocks PPL-303-DO, PPL-304-DO, PPL-305-DO, and PPL-306-DO are within the deep-water Niger Delta Basin.

In case you missed it: Nairametrics had earlier reported that the NUPRC scheduled January 16 2023 for a pre-bid conference to provide potential applicants with an opportunity to ask questions about the requirements for the mini-bid round.

On January 9, Norwegian Petroleum Geo-Services (PGS) announced its support for Nigeria’s mini-bid round. According to PGS, it has assembled a data package to license over the seven blocks, comprised of 10 000 square kilometres of merged 3D seismic data.

This is composed of various input surveys which have been matched, merged, and re-binned onto a common grid resulting in a single, continuous volume of full-stack seismic data in the time domain.

For the record: The mini-bid round exercise is open and non-discriminatory to both local and foreign entities, however, all companies must be registered in Nigeria under the Companies and Allied Matters Act (CAMA).

  • Applicants must prove they have the technical capacity and funding for the exploration activities in the blocks.

 

Related

Tags: Gbenga KomolafeNigerian Upstream Petroleum Regulatory Commission

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 
  • Girl Child: Nurturing Our Women, Nigeria’s Own Wealth
  • Nigeria investing heavily in food, packaging and plastics technology

Follow us on social media:

Recent News

Naira, fuel scarcity: Lagos announces 50% transport fare reduction for BRT, LAGRIDE, others, sets up Food bank

Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 

February 8, 2023
GIrl child

Girl Child: Nurturing Our Women, Nigeria’s Own Wealth

February 8, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics