Nigeria Launches Marginal Fields Bid Round
Following a marginal field licensing round announcement by Nigeria’s Minister of State for Petroleum Resources, H.E. Timipre Sylva, in April 2020, the country has officially launched a bid round, with 57 fields available.
The Department noted that the process is expected to take less than six months, with the concluding phase seeing the signing of farm-out agreements with leaseholders. The marginal fields bidding round is open to local companies and investors. The fields on offer are on land, swamp and the shallow offshore.
“The exercise, which will be conducted electronically, will include Expression of Interest/Registration, Pre-qualification, technical and Commercial bid submission and bid evaluation,” the Department said in a statement.
The Department has set out a number of steps for bidders, with fees payable at various points. A registration fee of $1,290 is the first payment, a $5,200 application fee per field, a $7,800 bid processing fee per field, a data prying fee of $15,000 per field, a data leasing fee of $25,000 per field, a competent persons report fee of $50,000 per field and a field specific report of $25,000 per field. Signature bonuses are also payable.
Interested companies are invited to visit the Department of Petroleum Resources’ dedicated portal for the requirements of the bidding round and applications: