The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced the 2022 mini-bid round process in accordance with the Petroleum Industry Act (PIA) 2021 for prospective licensees in the nation’s hydrocarbon resources industry.
The mini-bid round aims to open opportunities for investors to begin new oil exploration and drilling activities in the prospective deep waters offshore Nigeria.
The Commission’s Chief Executive Officer (CEO), Engr. Gbenga Komolafe, NUPRC, who gave this hint in a statement, said the mini-bid round was aimed at further development of the deep offshore acreages.
To ensure transparency in the process, he said that the mini-bid round would be conducted in accordance with the PIA with its enhanced legal and regulatory frameworks which seek to attract new investors and investments into the next phase of oil exploration in the country.
Komolafe clarified: “The mini-bid round will be managed by the NUPRC, in line with the provisions of the PIA, as the statutory body responsible for ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum industry.
“The National Data Repository of NUPRC and our multi-client partners are delighted and ready to support the Mini Bid Round underpinned by high- quality datasets. The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analog data.
“Additionally, a remarkable quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022), with angle stacks and gathers is also available to prospective bidders.
“Links to all data can be accessed via the dedicated NUPRC portal.
“The mini-bid round is a market-driven programme and will follow a transparent and competitive procurement process designed to attract competent third-party investors globally that have the capability and proficiency in operating in deepwater environment”, the NUPRC boss added.
The industry expert further explained that the mini-bid round intended to build on the successes of the last bid round held in April 2007 during which a total of 45 blocks, drawn from the Inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were put on offer.
Komolafe also recalled that the 2007 bid round was held under a different regulatory regime (the Petroleum Act, 1969) and generated massive interest and participation with its attended revenue which made the exercise a success.
In addition, he disclosed that in the 2022 mini-bid round, seven offshore blocks covering an area of approximately 6,700 sq km in water depths of 1,150m to 3,100m were put on offer.
Komolafe expressed optimism that the success of the mini-bid round would ensure that all stakeholders gain value from the nation’s oil and gas sector as the commission would continue to pay close attention to reduction in carbon emissions and other environmental, social and governance (ESG) considerations.
While the commission has published a dedicated programme portal for the mini-bid round, he hinted
that a pre-bid conference had been scheduled for January 16, this year in Lagos to shed more light on the mini-bid requirements.
According to him, in line with the bid-round timeline, the commission will invite interested companies to submit pre-qualification applications by Jan. 31, 2023.
The NUPRC boss assured that the commission would continue to provide further details and roadmap for this international competitive mini-bid round in due course.
