Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the addition of 17 deep offshore blocks to the 2024 Licensing Round.
The move is part of the commission’s efforts to enhance exploration activities and increase production in the Nigerian upstream sector.
TimesNow.com.ng had previously reported that NUPRC invited investors to bid for 12 oil blocks and seven deep offshore assets in the 2024 marginal fields bid round.
Also, on June 12, 2024, Punch reported that the federal government increased the number of oil blocks on offer in the 2024 marginal bid round.
The additional oil blocks bidding round for 2024 was announced by Gbenga Komolafe, the NUPRC chief executive, in a statement issued in Abuja on Tuesday, June 19.
Komolafe noted that the commission is committed to maximising the country’s abundant oil and gas resources.
He said:
Komolafe explained that adding these blocks was based on acquiring additional data related to deep offshore exploration.
He further noted that some assets, including PPL 300-CS & PPL 301-CS, PPL 2000, and PPL 2001, could be bid for as clusters or single units, providing flexibility to interested bidders.
NUPRC boss added:
Komolafe advised bidders to refer to the frequently asked questions sections of the 2022/23 and 2024 licensing round portals or contact the upstream regulatory agency.
He encouraged the public to take advantage of the expanded opportunities and attractive entry terms.
He also said that the increase in the number of oil blocks and the deadline to apply has been amended.
He said:
He stressed that President Bola Tinubu, as a petroleum minister, has approved attractive fiscal regimes and has slashed entry fees for both licencing rounds, Punch reports.
This decision promotes transparency and provides a level playing field for all bidders.
He added:
In a related development, TimesNow.com.ng reported that the Nigerian National Petroleum Company (NNPC) and Natural Limited Oilfield Services have commenced oil production in a new oil well.
The NNPC stated that the new oil well, OML 13 in Akwa Ibom state, is expected to produce 40,000 barrels daily.
