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Oil majors including Shell, Chevron and others are expected jostle for new oil blocs as no fewer than 12 deep offshore blocs will be put for sale in this year’s oil bid round.
Similarly, the 2022/2023 mini-bid round is also set for completion soon, it was gathered on Thursday.
Chief Executive Officer, Nigerian Upstream Regulatory Commission (NUPRC), Gbenga Komolafe, dropped the hint during the Commission’s Chief Executive’s Engagement with Oil Producers Trade Section (OPTS) a section of the Lagos Chamber of Commerce and Industry (LCCI) and the Independent Petroleum Producers Group (IPPG), at the Commission’s regional office, Lagos.
He said: “Let me seize this opportunity to announce that in line with the provisions of Section 73 of the PIA, (Petroleum Industry Act) the Commission will conclude the 2022/2023 mini-bid round and as well, conduct a new bid round of 12 blocks located in the continental shelf and deep offshore. We hereby call on investors to participate in the bid round process that will commence soon for shared prosperity."
He also said the Commission will be engaging certified metering experts to conduct technical integrity audit of the metering facilities in the Nigerian upstream sector with a view to ensuring that metering facilities function at best practices and industry allowable limit of error.
The NUPRC boss further said the Commission has equally put in place a “robust framework to guide issues of divestment and implementation of the decommissioning and abandonment and for community development trust,” adding that the NUPRC, in the weeks ahead, will be conducting a tour of upstream facilities in the country.
He assured stakeholders that the Commission’s goal is to put in place a business environment that is resilient, adaptable and align with global best practices.
“As members of OPTS and IPPG, you will continue to play pivotal role in shaping the industry response to the evolving energy dynamics for the prosperity of our nation. The implementation of the Regulatory Action Plan will be collaborative effort to our mutual benefits,” he said.
Also speaking with a delegation of marginal fields operators, Komolafe said the Commission would explore ways of ensuring that their operation goes smoothly.
“As marginal field awardees, we consider them as part of our stakeholders, and we need to encourage them especially because they are indigenous operators. We are committed to encouraging to the extent that they are making their owner contribution to the meaningful development of hydrocarbon in the country.
"Proactively, we are putting together a code of conduct that will enable them to put measures in place for good governance around their businesses in the manner that it will help them to be able to access facilities needed for their operations,” Komolafe said.
He expressed gratitude to the operators for their unwavering commitment to the development of our hydrocarbon resources as an industry and to work with us as a regulator for the realisation of our action plan aimed at propelling the Nigerian upstream petroleum industry to greater heights.
The Chairman, OPTS, Mr. Osagie Okunbor, expressed gratitude to the Commission for the meeting, saying: “There’s nothing as good as a regulator creating an avenue for its stakeholders to rub minds on issues and working together to make progress; we thank you for this."
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