Nigeria launches tender for 17 new oil blocks | APAnews

The Nigerian government has announced the addition of 17 deep offshore oil blocks to the 2024 licensing round for the country’s oil fields.

The Director General of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, said in a statement in Abuja on Tuesday that deep offshore blocks had been added to the 2024 licensing round.

Mr. Komolafe provided an update on the 2022/2023 and 2024 licensing cycles, explaining: “As part of the commission’s commitment to take advantage of the country’s abundant oil and gas reserves and increase production, the commission has been working assiduously with multi-client companies to undertake more exploratory activities to acquire more data to foster and encourage more investments in the Nigerian upstream sector.”

“With the additional data acquired with respect to deep offshore blocks, the commission has added 17 deep offshore blocks to the 2024 licensing cycle. Further details on the blocks can be found on the bidding portal “, he continued.

Komolafe also said that “according to the published guidelines, we had previously indicated that some of the proposed assets should be subject to a consolidation application, namely: PPL 300-CS & PPL 301-CS, PPL 2000 and PPL 2001. Bidders are hereby informed that they may, at their option, bid for these blocks as groups or as individual units.”

According to him, bidders should refer to the “Frequently Asked Questions” sections of the 2022/23 and 2024 licensing cycle portals, or contact the upstream regulatory agency.

He also noted that the schedule for the 2024 licensing round has been modified to allow interested investors to take advantage of the expanded opportunities.

GIK/lb/te/APA

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