• Thu. Mar 30th, 2023

    2022 Mini-Bid Round: NUPRC announces schedule for bidders’ conference


    Jan 11, 2023

    Ahead of the pre-qualification applications submission exercise scheduled for January 31, 2023, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday announced a bidders’ conference scheduled for Lagos on Monday, January January 16, 2023.
    The Commission Chief Executive (CCE), Gbenga Komolafe, who announced the schedule for the conference said it would provide potential bidders the opportunity to ask questions on issues concerning the Mini Bid Round process and requirements to ensure a successful participation in the exercise.
    Komolafe said the bidders’ conference is an important aspect of the bid process to give prospective bidders the proper understanding of the guidelines before they respond to invitationfor them to submit their pre-qualification at the end of the month.
    The NUPRC, the CCE assured, would continue to provide further details and roadmap for the international competitive Mini Bid Round.
    While announcing the opening of the Mini Bid Round on December 20, 2022, Komolafe explained that the exercise was an opportunity to spur new exploration and drilling activities in the prospective Nigeria offshore deepwaters.
    “The Mini Bid Round is aimed at further development of the deep offshore acreages, which is the first of the I’d exercise to be held in accordance with the newly enacted Petroleum Industry Act (PIA), 2021 with its enhanced legal and regulatory frameworks that seeks to encourage new investors and investments into the next phase of oil and gas exploration in this region.”
    The Mini Bid Round, he confirmed, would be managed by the upstream petroleum industry regulator, in line with the provisions of the PIA, as the statutory body responsible for ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum industry.
    “The National Data Repository (NDR) of NUPRC and our multi-client partners are delighted and ready to support the Mini Bid Round underpinned by high quality datasets. The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analogue data. Additionally, a remarkable quality 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022) with angle stacks and gathers, is also available to prospective bidders. Links to all data can be accessed via the dedicated NUPRC portal.
    “The Mini Bid Round is a market-driven programme and will follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world that have the capability and proficiency in operating in deepwater environment.
    “Historically, this Mini Bid Round intends to build on the successes of the last bid round that held in April 2007 during which a total of 45 oil blocks, drawn from the inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were put on offer.
    “The 2007 bid round was held under a different regulatory regime (the Petroleum Act, 1969) and generated massive interest and participation with its attended revenue which made the exercise a success.
    “In this 2022 Mini Bid Round, seven Offshore blocks, covering an area of approximately 6,700 square kilometre m in water depths of 1,150 meters to 3,100 meters were put on offer.
    “The success of the Mini Bid Round will ensure all stakeholders gain value from the country’s resources, whilst paying close attention to reduction in carbon emissions, as well as overall environmental, social and governance (ESG) considerations.
    “A dedicated programme portal (br.nuprc.gov.ng) for the Mini Bid Round has been published by NUPRC which provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants.

    Meanwhile, ths pre-bid conference scheduled for January 16, 2023 at Eko Hotels & Suites, Lagos would provide prospectivee applicants with an opportunity to ask questions to clarify issues they may have concerning the Mini Bid Round process.”

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