June 22, 2024

Nigeria announces 2022 mini-bid round for new exploration activities in seven deep water offshore

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Oredola Adeola with agency report

As part of efforts to spur new exploration and drilling activities in the prospective deep waters offshore Nigeria, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the Mini-Bid Round 2022 for new crude oil exploration and drilling activities in the offshore blocs.

Gbenga Komolafe, NUPRC’s Chief Executive made this known during a press conference held on Wednesday in Abuja.

EnergyDay gathered that the 2022 Mini-Bid Round, made up of seven offshore blocks covering 6,700 km2 in water depths of 1,150m to 3,100m is being put on offer.

Mr. Komolafe said the mini-bid round was the first in a series of bid rounds targeted at developing prospective petroleum basins.

He said the bid round would be held in accordance with the Petroleum Industry Act 2021 (PIA), with its enhanced legal and regulatory frameworks.

Mr. Komolafe also said that the legal and regulatory frameworks seek to encourage new investors and investments into the next phase of exploration in this region.

“The Mini-Bid Round will be managed by the NUPRC, in line with the provisions of the PIA, as the statutory body responsible for ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum industry.

“The National Data Repository of NUPRC and our multi-client partners are delighted and ready to support the Mini-Bid Round underpinned by high-quality datasets.

“The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analog data.

“Additionally, a remarkable quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022), with angle stacks and gathers is also available to prospective bidders.

“Links to all data can be accessed via the dedicated NUPRC portal.

“Details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants can also be accessed from the portal,” the ACE said

According to him, the Mini-Bid Round is a market-driven program and will follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world.

He said investors must have the capability and proficiency in operating in deep-water environments.

Mr. Komolafe further said that the 2022 Mini-Bid Round intends to build on the successes of the last bid round that was held in April 2007.

He noted that a total of 45 blocks drawn from the inland Basins of Anambra, Benue, and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were put on offer during the April 2007 bid round.

“The 2007 bid round was held under a different regulatory regime (the Petroleum Act, 1969) and generated massive interest and participation with its attendant revenue which made the exercise a success.

“In this year’s Mini-Bid Round, seven offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m is put on offer.

“The success of the Mini-Bid Round will ensure all stakeholders gain value from the country’s resources, whilst paying close attention to the reduction in carbon emissions, as well as overall environmental, social and governance (ESG) considerations.

He said a pre-bid conference would be held on January 16, 2023, to enable potential applicants to ask questions on issues concerning the bid round process and requirements.

Komolafe said that interested companies would be invited to submit their pre-qualification applications by Jan. 31, 2023.

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