The federal govt has put seven deep offshore oil blocks on be offering, calling on buyers globally to bid for them.

This is the primary time in 15 years that the government is hanging contemporary oil blocks up for bids.

The Commission leader govt, Nigeria Upstream Petroleum Regulatory Commission, (NUPRC), Engr. Gbenga Komolafe, who introduced this the day prior to this in Abuja, stated the seven offshore blocks overlaying a space of roughly 6,700 km2 in water depths of one,150m to three,100m is placed on be offering within the Mini Bid Round 2022.

Engr. Komolafe stated, that is the primary time a bid for a deep offshore asset is retaining after the Petroleum Industry Act, PIA 2021 and because April 2007 when 45 blocks have been presented however below the defunct law.

The CCE additional stated a pre-bid convention will grasp on January 16, 2023, and potential buyers are anticipated to post bids for the blocks on or ahead of January 31, 2023.

Komolafe mentioned that the Mini Bid Round is the primary in a sequence of bid rounds, aimed toward additional building of this potential petroleum basin will probably be held in line with the Petroleum Industry Act 2021 (PIA), with its enhanced prison and regulatory frameworks that search to inspire new buyers and investments into the following section of exploration on this area.

According to him, the Mini Bid Round will probably be controlled by means of the NUPRC, in step with the provisions of the PIA, because the statutory frame liable for making sure compliance with petroleum regulations, rules, and pointers within the Nigerian upstream petroleum trade.

“The National Data Repository (NDR) of NUPRC and our multi-client companions are extremely joyful and able to beef up the Mini Bid Round underpinned by means of top quality datasets.

“The blocks have intensive 2D and 3-D seismic information protection, together with multi-beam and analogue information. Additionally, a exceptional high quality, 3-D MegaSurveyPlus reprocessed Pre-stack Time Migration (finished October 2022), with attitude stacks and gathers may be to be had to potential bidders. Links to all information can also be accessed by way of the devoted NUPRC portal.

“The Mini Bid Round is a market-driven programme and can apply a clear and aggressive procurement procedure designed to draw competent third-party buyers from the world over that experience the potential and talent in working within the deep-water environments.

“Historically, this Mini Bid Round intends to construct at the successes of the ultimate bid spherical that held in April 2007 all the way through which a complete of forty-five (45) blocks, drawn from the inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore have been placed on be offering.