The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has extended the 2024 oil block licensing bid round registration by 10 days, according to a statement by Commission CEO Engr. Gbenga Komolafe on Tuesday. This extension aims to give interested investors more time to take advantage of the expanded opportunities.
Komolafe detailed that the registration and submission of pre-qualification documents, initially set to close on June 25, 2024, will now close on July 5, 2024. The subsequent stages, including data access, purchase, evaluation, and bid preparation, will commence on July 8, 2024, with the submission deadline remaining November 29, 2024.
READ ALSO
Aliko Dangote Expands Refinery Storage, Faces Challenges from International Oil Companies
NSCDC Busts Illegal Oil Refinery in Rivers State Cemeteries, Vows Relentless Fight Against Economic Saboteurs
To attract further investment, the NUPRC has added 17 deep offshore blocks to the 2024 licensing round, thanks to newly acquired data from extensive exploratory activities. Additionally, bidders now have the option to apply for Petroleum Processing Lease (PPL) blocks either in clusters or as single units.
In pursuit of transparency and equity, the commission has aligned the bid criteria and fiscal regimes for both the 2022/23 Mini Bid Round and the 2024 Licensing Round. The reopened registration for the 2022/23 Mini Bid Round, along with minimized entry fees and attractive terms, aims to provide a level playing field for all investors.
