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Thursday, January 26, 2023

DPR commences 2020 Marginal Field Bid Round Exercise

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The Department of Petroleum Resources (DPR), has announced the commencement of the 2020 Marginal field Bid Round exercise, on behalf of the Federal Government of Nigeria.

The Bid Round exercise is open to indigenous companies and investors interested in participating in Exploration and Production (E&P) business in Nigeria.

A total of fifty-seven (57) fields located on Land, Swamp and Shallow offshore terrains are on offer.The exercise which will be conducted electronically, will include Expression of Interest/Registration, Pre-qualification, Technical and Commercial bid submission and bid evaluation.

Interested parties are being invited by the DPR to visit its dedicated portal for the exercise: marginal.dpr.gov.ng to access the Guidelines for the Award and Operations of Marginal Fields in Nigeria, 2020, and the requirements for participation.

Potential investors will browse through a catalogue containing surveys for at least 57 Marginal Fields located on land, swamp and shallow water terrains in the bid basket, including 11 fields, whose licenses were revoked in April.

Under guidelines, an application attracts a non-refundable chargeable fees including an Application fee of N2 Million Naira per field, Bid Processing Fee of N3Million Naira 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.

All application fees and processing fees are expected to be paid into the Treasury Single Account (TSA) while Signature Bonuses are expected to be paid into the Federation Account. Also, fees for data leasing, data prying, Competent Persons Report (CPR) and Field Specific Report should be paid into the National Data Repository (NDR) account for repayment.

Marginal fields are usually seen as less attractive by the international oil majors due to lower reserves and location in the onshore Niger Delta often susceptible to attacks by militants.

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