DPR The Department of Petroleum
Resources, DPR, weekend, revealed
that Nigerians currently own 52 per
cent of the 173 active oil blocs, while
foreign oil companies own 48 per
cent. Speaking at the launch of the Nigeria Oil and Gas, NOG Intelligence, a
weekly print and online oil and gas
newsletter in Lagos, Mr. Osten
Olorunshola, Director, DPR, further
disclosed that the Federal Government is considering undertaking another bidding round for the country’s marginal oil fields, while it will revoke the licenses of some fields awarded in 2003, next year. Olorunshola who stated that the bids will be conducted as soon as it gets
the go-ahead from the Presidency
also disclosed that the federal
government does not allocate oil blocs
and marginal fields to individuals and corporations based on region or where they come from, adding that it has no records of 83 per cent Northern ownership of oil blocs anywhere. He said of the total of 388 oil blocs,
Nigeria has awarded 173 blocs to
individuals and corporations, with
Nigerians owning 90 blocs while
foreigners own 83 blocs, adding that
215 blocs are yet to be awarded. Nigerians 52% account for 6%
crude oil production He however, lamented the fact that the 90 blocs awarded to indigenous players only account for six per cent of the country’s total crude oil production while the 83 blocs awarded to foreign oil companies account for 94 per cent of the country’s total crude oil production. He blamed this on the lackadaisical attitude of the Nigerian players towards the development of the blocs, saying majority of them have not commenced serious production activities on the fields since the award. “It appears that people just want to own blocs and put it on their complimentary cards. We are not happy with that. It is absurd that six
per cent of oil production is coming
out of 90 leases. Government decided to dig deeper as it was not so happy
with the performance of the indigenous oil companies. That is the reason why government put in place the Marginal Fields policy,” he noted.
Source: www.vanguardngr.com

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