FG extends registration deadline for marginal field bid round to June 21

By
The Department of Petroleum Resources (DPR) has extended the registration deadline for the marginal oil fields bids by one week.
In a notice published on Thursday, the agency said the deadline has been moved from June 14 to June 21.
It did not give a reason for the extension.
If successful, it would be the first marginal field bidding round to hold since 2002.
DPR announced the commencement of the bidding rounds on June 1; offering 57 fields located onshore, swamp, and shallow offshore terrains.
Marginal fields are smaller oil blocks, with reported reserves and production potential, which have been discovered by companies and have not been developed for over a period of 10 years.
To encourage local participation, the fields are usually left to indigenous companies i.e., companies registered to carry out petroleum exploration and production operations in Nigeria with 100% indigenous shareholding.
However foreign investors are not totally excluded as awardees may assign up to 49% of its interest to another party subject to approval by the minister of petroleum resources.
In 2013, Diezani Allison-Madueke, former minister of petroleum resources, had declared the second marginal bid rounds open and investors had submitted bids for the 31 marginal fields put up for bidding.
However, the bid rounds which were scheduled to be completed in March 2014 could not meet the deadline.

Comments

Post a Comment

Popular Post

Buhari appoints Nami to replace Fowler as FIRS chairman

By Brajest
- President Buhari has appointed Muhammad M. Nami as the new chairman of the FIRS - Nami replaced Tunde Fowler whose tenure as the chairman of the revenue collection agency expired - President Buhari also approved the composition of a new FIRS board which will be effective after confirmation by the Senate President Muhammadu Buhari has appointed Muhammad M. Nami to replace Tunde Fowler as the new chairman of the Federal Inland Revenue Service (FIRS). Presidential spokesperson, Garba Shehu, disclosed this in a tweet via his official Twitter handle on Monday, December 9. Fowler's tenure as the chairman of the foremost revenue collection agency has expired. The newly appointed chairman is a professional tax consultant who graduated from the  Ahmadu Bello University , Zaria. Nami, who is a well-trained tax, accounting and management professional has a robust experience in auditing, tax management and advisory and management services. Legit.ng  gathered that Pres
Read more

Court frees ‘100’ IMN members in detention

By Brajest
Image
Hanatu Gwada, judge of Kaduna state high court, on Friday, discharged and acquitted 100 members of the Islamic Movement in Nigeria (IMN). In a statement on Friday, Ibrahim Musa, IMN spokesman, said the freed members of the group were being prosecuted by the state government in connection with the December 2015 clashes between the group and the Nigerian Army in Zaria. He said another court had previously  acquitted about 100 members  of the group in the same case. “The Islamic Movement in Nigeria has today, Friday, 21/2/2020 again secured a favourable judgement in the case brought before the Kaduna State High Court against the last batch of its members detained since December 2015 following the heinous attacks by the Nigerian Army in Zaria,” Musa said. “The court discharged and acquitted all the 100 remaining accused members and vindicated the Islamic Movement, thereby absolving both the leadership and membership of any blame in the events leading up to the Zaria massacre.
Read more

NURTW: We may increase fares over interstate travel COVID-19 guidelines

By Brajest
Image
The National Union of Road Transport Workers (NURTW) says it may increase fares over new guidelines issued by the federal government on interstate travel. On Monday, the federal government  lifted the ban  on interstate travel starting from July 1, but mandated temperature checks for every passenger and crowd control at motor parks. Vehicles are also required to carry only fifty percent of their capacity. Kabiru Yau, NURTW acting general secretary, said the directive for motorists to carry fewer passengers on a trip will reduce their income. He asked the federal government to subsidise the operation cost of the motorists. “We thank the federal government for lifting the ban. It is a welcome development because it is over three months that our members have been out of jobs and without income,” he said. “At least, our people will now start working and get something to feed their families. But at the same time, due to the spacing in the vehicles which will require the drivers t
Read more