Headline National News Oil&Gas

FG commences Mini Bid for Deep offshore

The Federal Government has commenced the Mini Bid Round for exploration and drilling activities in the prospective Deep Water Offshore in the Niger Delta Region.

A Statement by the Chief Executive of the Nigeria Upstream Petroleum Regulatory Commission, Mr. Gbenga Komolafe says, the Mini Bid Round which will be managed by the Commission is in accordance with the provisions of the Petroleum Industry Act, PIA.

According to the Statement, the Mini Bid Round will follow a transparent and competitive procurement process designed to attract competent Third-party Investors from across the globe with capacity and proficiency in operating in Deep Water environment.

The Statement notes that, in the 2022 Mini Bid Round, Seven Offshore Blocks covering an area of approximately 600 Square Kilometres in Water depths of 1,150 to 3,100 Metres are put on offer.

Writing by Conrad Labeh; Editing by Chinasa Ossai & Editing by Julian Osamoto