Nigeria announces 2022 mini-bid round for new drilling, exploration activities

The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) has introduced the Mini-Bid Round 2022 for new crude oil exploration and drilling pursuits in the offshore blocs.

Gbenga Komolafe, the commission’s main executive, stated this at a news conference on Wednesday in Abuja.

Mr Komolafe mentioned the mini-bid round was the to start with in a sequence of bid round qualified at establishing possible petroleum basin.

He mentioned the bid spherical would be held in accordance with the Petroleum Industry Act 2021 (PIA), with its improved legal and regulatory frameworks.

Mr Komolafe also claimed that the authorized and regulatory frameworks look for to inspire new investors and investments into the up coming period of exploration in this location.

“The Mini-Bid Round will be managed by the NUPRC, in line with the provisions of the PIA, as the statutory entire body liable for making sure compliance with petroleum regulations, restrictions, and tips in the Nigerian upstream petroleum market.

“The Nationwide Facts Repository of NUPRC and our multi-client companions are delighted and all set to assist the Mini-Bid Spherical underpinned by significant-good quality datasets.

“The blocks have considerable 2D and 3D seismic info protection, together with multi-beam and analog data.

“Additionally, a impressive quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (accomplished Oct 2022), with angle stacks and gathers is also available to future bidders.

“Links to all knowledge can be accessed through the committed NUPRC portal.

“Details of the bid spherical system, which include the registration and prequalification specifications, and thorough recommendations for candidates can also be accessed from the portal,” Mr Komolafe said

In accordance to him, the Mini-Bid Spherical is a industry-driven programme and will comply with a clear and aggressive procurement method made to entice capable third-celebration traders from across the environment.

He reported buyers should have the ability and proficiency in working in deep-water atmosphere.

Mr Komolafe further explained that the 2022 Mini-Bid Spherical intends to create on the successes of the previous bid spherical that held in April 2007.

He observed that 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 being place on supply for the duration of the April 2007 bid round.

“The 2007 bid spherical was held less than a distinct regulatory routine (the Petroleum Act, 1969) and created huge curiosity and participation with its attended earnings which created the exercising a accomplishment.

“In this year’s Mini-Bid Round, seven offshore blocks masking an spot of approximately 6,700 km2 in drinking water depths of 1,150m to 3,100m is place on present.

“The accomplishment of the Mini-Bid Round will make certain all stakeholders achieve worth from the country’s methods, even though having to pay near consideration to reduction in carbon emissions, as very well as overall environmental, social and governance (ESG) criteria.

He said a pre-bid convention would keep on Jan. 16, 2023, to help prospective applicants request questions on troubles concerning the bid spherical system and necessities.

Komolafe mentioned that fascinated businesses would be invited to submit their pre-qualification programs by Jan. 31, 2023.

(NAN)