The Department of Petroleum Resources will, on Monday, May 31, 2021, allot 57 marginal oil fields to oil companies in the country.
The Federal Government of Nigeria had in June 2020 started a bid round for the fields, which are mainly in the Niger Delta.
DPR Spokesman, Paul Osu, stated on Saturday that arrangements had been concluded on the bid, adding that letters would be issued to successful investors on Monday, in Abuja.
According to the regulator, successful investors, who will be receiving their award letters, are companies that satisfied all requirements in the marginal field bid round guidelines, including full payment of signature bonuses within the specified timeframe.
The development is expected to deepen indigenous participation in the oil and gas industry, as well as add to the country’s production and reserve.
The marginal field bid round is also geared towards providing technical and financial partnerships for investors.
DPR will continue to provide transparent regulatory oversight for the oil and gas industry to enable business and create opportunities for investors, Osu added.
