FG Offered Seven Offshore Oil Blocks In 2022 Mini-bid Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), speaking on behalf of the Federal Government announced the Mini Bid Round 2022 on Wednesday.

The federal government stated that seven offshore blocks with a combined area of more than 6,700 km2 and water depths ranging from 1,150 m to 3,100 m are up for bid this year.

The Mini Bid Round presents an opportunity to promote new exploration and drilling endeavours in the potential deep seas offshore Nigeria, according to the Chief Executive Officer of the Commission, Engr. Gbenga Komolafe.

In accordance with the Petroleum Industry Act 2021 (PIA), which has strengthened legal and regulatory frameworks intended to draw new investors and investments into the area's forthcoming phase of exploration, the Mini Bid Round is the first of numerous bid rounds that will be undertaken, according to Komolafe.

He said that the Mini Bid Round will be overseen in accordance with the PIA's requirements by the NUPRC, the statutory organisation in responsibility of ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum business.

“The National Data Repository (NDR) 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 analogue 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 from across the world that have the capability and proficiency in operating in the deep-water environments.

“Historically, this Mini Bid Round intends to build on the successes of the last bid round that held in April 2007 during which a total 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 were put on offer.

“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 this year Mini Bid Round, seven (7) Offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m is put on offer.

“The success of the Mini Bid Round will ensure all stakeholders gain value from the country’s resources, whilst paying close attention to the reduction in carbon emissions, as well as overall environmental, social and governance (ESG) considerations.

“A dedicated programme portal (br.nuprc.gov.ng) for the Mini Bid Round has been published by NUPRC, which provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants.

“A pre-bid conference is scheduled for 16th Jan 2023, to provide potential applicants with an opportunity to ask questions they may have concerning the Mini Bid Round process and requirements, after which interested companies will be invited to submit their pre-qualification applications by 31st Jan 2023.

“NUPRC will continue to provide further details and roadmap for this international competitive Mini Bid Round in due course.

“It is a great privilege to announce the Mini Bid Round 2022 and we look forward to the success of the upcoming events and activities,” he said.