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Wednesday, September 6, 2017
NNPC disclosed that the government of Nigeria is preparing to launch a bid round for 30 marginal fields in a statement issued by the state-run firm’s Group General Manager, Public Affairs, NduUghamadu.
The statement said that NNPC’s Group Managing Director, MaikantiBaru, spoke on the marginal fields while hosting members of the Independent Petroleum Producers Group (IPPG) and urged its members to participate in the licensing round.
He also urged them to take advantage of the low crude oil price regime to develop their capacity and acquire technology in the oil industry. He added that there were many opportunities for members to work ‘hand-in-hand’ with the DPR to ensure that they meet the conditions required from bidders.
“The marginal oil field lease renewal is an opportunity for your group. You will need to engage the DPR early in discussion to find out the conditions that the federal government is interested in. For example, the supply of gas to power plants and fertilizer plants and I think your group will be successful,” said Baru.
He also tasked the IPPG members to ramp up their collective production from 10% of national production to 50% in the next 10 years in order to increase the footprint of indigenous companies in the upstream sub-sector as is the case in the downstream sector
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