Over the next two weeks, the Department of Petroleum Resources will undertake a road show to different parts of the country about the programme. This will be followed by a three and a half-month of competitive bidding process in line with the Federal Government’s commitment to openness and transparency in the conduct of business activities in the country

• To rehabilitate refineneries ahead of sale

After several years of waiting, the Federal Government has finally flagged off the second oil marginal fields licensing round in the country,under a strategic move to deepen the participation of indigenous oil companies in the upstream sector of the oil and gas industry.
Meanwhile,the government has stated its resolve to embark on rehabilitation of the nation’s four refineries ahead of their sale to private investors.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who declared the bid round open in Abuja, yesterday,affirmed that it would boost the participation of Nigerian indigenous companies in the upstream and thereby increase exploration and production activities in the sector to the benefit of Nigerians and the Nigerian economy.
Giving details of the licensing round, Alison-Madueke stated that a total of 31 fields are on offer with 16 of them located onshore, while the remaining 15 are in the continental shelf.
The Minister,who said the Federal Government is committed to transparency in the bidding process,also encouraged companies indicating interest in the assets to form consortia that would enable them leverage upon each other’s strengths.
“Over the next two weeks, the Department of Petroleum Resources will undertake a road show to different parts of the country about the programme. This will be followed by a three and a half-month of competitive bidding process in line with the Federal Government’s commitment to openness and transparency in the conduct of business activities in the country” Alison-Madueke stated.
Giving an update on the last marginal fields bid round held in 2001, the Minister disclosed that out of the 24 fields that were allocated to 31 indigenous oil companies in that exercise, eight were already producing while the others are at various stages of development.
Alison-Madueke noted that the marginal field operators who currently account for about one per cent of the nation’s production have also recorded huge discoveries in excess of 100 million barrels to the nation’s reserve base, adding that out of the eight assets that have so far been divested by the IOCs, at least four are held by active marginal field operators, who have continued to demonstrate remarkable technical ability in operating significantly larger assets.
“In their operations, the companies have addressed corporate social responsibility as a critical element, by providing for stakeholder participation as part of their success factors.
“In addition, their development strategy is in line with the nation’s gas flare policy and global environmental guidelines on green house emissions, by ensuring full utilization of their associated gas.
“Indeed, one of them has established a modular refinery for diesel production which is the first of its kind in the country” Alison-Madueke stated.
The Minister explained that the Federal Government is encouraged by the modest achievements of the marginal field operators in line with the objectives of the local content policy to kick off this marginal field licensing round.
On the proposed sale of the refineries, Alison-Madueke reiterated government’s stance to move away from managing major infrastructure, adding that government would go ahead with the original plan to rehabilitate the refineries,to get a premium price from their sale.
The Minister maintained that adequate room has been made in the privatization time-table for engagement with all stakeholders to resolve all labour issues to ensure a win-win situation for all.

http://www.ngrguardiannews.com/index.php/business/business-news/139727-govt-kicks-off-marginal-field-licensing-round

Now this is what will bring all the self seeking polithieficians back to PDP after all this is all what politics in Nigeria is about.

I see PDP using this wells to whip erring members and their followers in line, dangling the wells as gift ha, ha, ha.

And don't also forget the refineries that are also up for sale next year. A lot of carrots are being prepped for 2015 elections.

Support jonathan and get a refinery or OML, making them offers that will be difficult to reject! SS have most of the carrots needed to negotiate political patronage/loyalty.