The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has announced the kick-off of its 2022 mini-bid round.
The news was issued through a statement signed by the NUPRC Chief Executive Officer, CEO, Gbenga Komolafe yesterday, January 10th, 2023 which was published on the agency’s website. In the statement, Komolafe stated that the mini-bid round, which presented seven blocks on offer, was a golden opportunity to present new exploration and drilling activities in the Nigerian deep waters.
The NUPRC by its designation is expected to manage the mini-bid round process commensurate with the new Petroleum
Industry Act, the 2022 Petroleum Licensing Round Regulations, and other appropriate laws.
Komolafe explained that the process was a market-driven program that will comply with a transparent and aggressive procurement process planned to woo third-party investors from all over the globe.
He explained that according to the design, the seven blocks on offer are located within the Gulf of Guinea, offshore Nigeria at approximately 150km southeast of Lagos port, Nigeria, measuring about 1000 to 2000 meters in depth.
According to the report, Blocks PPL-300-DO, PPL-301-DO, and PPL-302-DO are located in the Nigerian Transform Margin area. Blocks PPL-303-DO, PPL-304-DO, PPL-305-DO, and PPL-306-DO are within the deep-water Niger Delta Basin.
