Nigerian government has announced a 2020 oil licensing bid as it puts on offer 57 marginal oil fields
The fields, located on land, swamp and shallow offshore terrains, are open to indigenous companies and investors with substantial Nigerian shareholding interested in participating in the exploration and production business in Nigeria.
However, companies whose promoters are either indebted to the government or currently holding oil assets (not operated in a business-like manner) would not be pre-qualified to participate in the bid.
Bidders are expected to demonstrate capacity for Nigerian content development, particularly training and growth of indigenous capability and manpower, as well as plan for local input in the provision of materials and services to the industry.
A marginal field is defined by the Nigerian government as any discovered field that had been left unattended for a period of not less than 10 years, from the date of first discovery.
The licensing bid will be conducted electronically and would include expression of interest/registration, pre-qualification, technical and commercial bid submission and bid evaluation.
“The overall process is not expected to take longer than six months, from the date of announcement and commencement to signing of farm-out agreement with the leaseholders,” according to the Nigerian Directorate of Petroleum guidelines.
