Adedapo Adesanya
By Adedapo Adesanya
The Department of Petroleum Resources (DPR) has extended the deadline to register to bid for Nigeria’s marginal oilfields by one week.
The registration to bid which was scheduled to end June 14 will now close on June 21, the nation’s petroleum regulator, however, did not give a reason for the extension.
The DPR had launched the first marginal field award round in nearly 20 years on June 1.
The marginal oilfields comprise 57 fields located on land, swamp and shallow offshore terrains.
The country will rake in at least N2.3 billion on non-refundable application fees from the marginal oilfields bid rounds, which is coming 18 years after the first one was conducted in 2002.
The DPR guidelines on the oil bid round indicated that payment by interested bidders shall attract non-refundable chargeable fees on application for N2 million per field.
It added that the bid processing fee of N3 million per field, data prying fee of $15,000 per field, data leasing fee of $25,000 per field, competent persons report of $50,000 and $25,000 for fields specific report will also apply.
In addition, interested bidders are expected to pay a total of $115,000 in statutory fees and another N5 million in local currency.
However, the bid round is open to indigenous companies and investors interested in participating in exploration and production business in Nigeria.
