161 firms shortlisted for final stage of 2020 marginal fields bid round

OpeOluwani Akintayo

Lagos — A total of 161 bidders have been shortlisted for the final stage by the Department of Petroleum Resources, DPR, in the 2020 marginal field bid round.

Mr. Paul Osu, Head, Public Affairs, DPR, disclosed that the firms were selected from over 600 bidders jostling for control of the 57 marginal oil fields on offer.

“The 2020 marginal oilfield bid round process is still ongoing in line with our published timelines on the DPR website and bid portal. “The current status is that 161 successful companies have been short-listed to advance to the next and final stage of the process,” Mr. Osu said.

Nigeria last conducted marginal field bid round in 2003 with 16 of the fields now contributing two percent to the national oil and gas reserves.

The 2020/2021 bid rounds meant to deepen indigenous oil firms participation in the upstream sector was flagged off on June 1, 2020

Appeared on SweetCrude

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