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  • Oil & Gas - News
  • Updated: January 11, 2023

FG Opens 2022 Mini-Bid Round – NUPRC

 FG Opens 2022 Mini-Bid Round – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has started the 2022 mini-bid round procedure in line with the Petroleum Industry Act (PIA), 2021.

The mini-bid round offers a chance to promote new offshore Nigerian deepwater oil drilling and exploration operations.

The Federal Government's pronouncement was announced in a statement on Tuesday in Abuja by Gbenga Komolafe, the Commission Chief Executive (CCE), NUPRC.

Continuing to develop the deep offshore acreages was the goal of the mini-bid round, according to Komolafe.

He stated that this would follow the PIA's upgraded legal and regulatory frameworks, which aimed to attract new companies and investments into the region's upcoming exploration phase.

“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,” he said.

The mini-bid round, according to him, was created to build on the achievements of the previous round of bidding, which took place in April 2007 and included the offering of 45 blocks from the Niger Delta Continental Shelf, Onshore Niger Delta, Deep Offshore, and Inland Basins of Anambra, Benue, and Chad.

He noted that the 2007 bid round had been held under a different regulatory structure (the Petroleum Act, 1969), and that it had attracted a lot of interest and involvement, as well as a lot of money, making the exercise successful.

He said that seven offshore blocks with a combined area of roughly 6,700 sq km and water depths ranging from 1,150 m to 3,100 m were offered in this 2022 mini-bid round.

He said that if the mini-bid round was a success, all stakeholders would benefit from the nation's resources while paying particular attention to overall environmental, social, and governance (ESG) factors and the reduction of carbon emissions.

He claims that the NUPRC has released a special programme portal (br.nuprc.gov.ng) for the mini-bid round.

A pre-bid conference has been set for January 16, 2023 at the Eko Hotels and Suites in Lagos, he added.

Komolafe claimed that the conference will give prospective candidates the chance to enquire about the guidelines and procedures for the mini-bid round.

He stated that pre-qualification applications will need to be submitted by January 31, 2023, by interested organisations.

In due order, Komolafe promised, the NUPRC would continue to provide more information and a strategy for this international competitive mini-bid round.

“Interested applicants are by the publication invited to participate in the process,” he added.

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