…announces resumption of 2022/2023 mini bid round for pre-qualified applicants

Oredola Adeola

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed that the registration and pre-qualification submission process for 2024 licensing round, which commenced on May 13, 2024, is scheduled to conclude on June 25, 2024.

This was contained in a statement announced by NUPRC and obtained by Advisors Reports on Monday.

The processes according to NUPRC involved registration and pre-qualification, data prying/purchase, technical bid submission and Technical Bid Evaluation as well as Commercial Bid Conference.

NUPRC stated that the 2024 licensing Round represents the opportunity for both domestic and international stakeholders to engage in the exploration and development of Nigeria’s hydrocarbon resources.

The Commission further stated that central to this, is the availability of high quality geological and geophysical data.

It said, “The National Data Repository (NDR) of NUPRC, in collaboration with multi-client partners are committed to providing access to extensive and robust datasets to prospective bidders to enhance their decision making.”

The NUPRC further revealed that it has identified twelve(12) blocks, that cut across deep offshore, shallow water and onshore terrains to be made available to interested investors.

The Commission further said, “In line with the objective of the licensing Round ,the offer comprises a diverse range of exploration prospects and discoveries with varying technical and operational preferences.

“Our goals for the licensing Round is to harness innovative exploration techniques and foster partnership that will enhance our productions but also significantly contribute to the global energy supply, aligning with international energy security goals.

“Emphasizing, a holistic approach to resource management, the 2024 licensing Round prioritizes environmental , social and governance (ESG) consideration.

NUPRC therefore assured that it is committed to ensuring the exploration activities are conducted in a manner that minimizes carbon emissions and mitigate environmental impact.

It stated that by incorporating ESG criteria into the licensing process, stakeholders can contribute to su. stainable development while harnessing the nation’s resources responsibly.

NUPRC said, “The success of the 2024 licensing Round hinges on collaboration among all stakeholders, including government agencies , industry players and local communities.

“By fostering a conducive investment environment and promoting best practices in resources management for shared prosperity.

“The 2024 licensing Round is the second in a series of bid rounds and will be managed by NUPRC in accordance with the provisions of the Petroleum Industry Act 2021,” the Commission stated.

Meanwhile the NUPRC in the statement also announced the resumption of the 2022/2023 Mini Bid Round for pre-qualified applicants.

The Commission assured that it is committed to to an open, fair, transparent and competitive bid process.

It said, “We are also committed to partnering with entitled that share its dedication to excellence, safety and environmental stewardship.”