The Federal Government has announced the opening of the second marginal oil field licensing round, promising transparency and accountability in the process.

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who declared the bid round open at a news conference in Abuja on Thursday, said it was aimed at deepening the participation of indigenous oil companies in the upstream sector of the oil and gas industry.

This, she said, was also aimed at generally increasing exploration and production activities in the oil and gas sector.

Giving details of the licensing round, Alison-Madueke stated that a total of 31 fields were on offer with 16 of them located onshore, while the remaining 15 were in the continental shelf.

She said the Federal Government was committed to transparency in the bid process and would encourage companies interested in the assets to form a consortia that would enable them to leverage upon each other’s strengths.

She said, “Over the next two weeks, the Department of Petroleum Resources will undertake a road show in different parts of the country about the programme. This will be followed by a three-and-a-half months 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.”

Giving an update on the last marginal fields bid round, which held in 2001, the minister stated that of the 24 fields that were allocated to 31 indigenous oil companies in that exercise, eight were already producing while the others were at various stages of development.

Alison-Madueke noted that the marginal field operators, currently accounting for about one per cent of the nation’s production, had also recorded huge discoveries in excess of 100 million barrels to the nation’s reserve base.

She added that of the eight assets that had so far been divested by the international oil companies, at least four were held by active marginal field operators, who had continued to demonstrate a remarkable technical ability in operating significantly larger assets.

Alison-Madueke said, “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 utilisation 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.”

According to the minister, 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 the marginal field licensing round.

On the proposed sale of the refineries, Alison-Madueke reiterated the government’s stance to move away from managing major infrastructure, adding that the government was going ahead with the original plan to rehabilitate the refineries to be able to get a premium price from their sale.

The minister maintained that adequate room had been made in the privatisation time-table for engagement with all stakeholders to resolve all labour issues to ensure a win-win situation for all.


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Time to settle some score.

This has always been the reason for all the attack and making the country ungovernable for GEJ.
Some peeps will surely pee in their britches.

When will Lagos start oil production in large quantites?

Akinmail: When will Lagos start oil production in large quantites?

Palm oil you mean right?

Nnewi1stSon: Palm oil you mean right?

no sun flower oyel

Wait, so this Allsion-Madueke is still in govermnent position
I haven't heard about her in so long, i thought she wasn't even minsiter anymore
I thought GEJ was supposed to fight corruption??

Will some people curse this beautiful morning? I definitely think so!

.

Na dem dem go share their oil field.

In a discussion I had a few dails earlier, I told a friend to expect a development of bids in the oil and gas sector launched by the FG in 2014. I didnt know that it was this close. This is just a tiny bit of the power of incumbency at work. GEJ will feed on the need for greed as this is the creed of the APC/PDP breed. Immediately personal gratification comes into consideration, politicians buckle at the slightest weight of opportunity. Sule Lamido WILL NEVER leave the PDP for instance. If only GEJ's people win these rounds for super economic empowerment via oil fields, I can assure you that greed again will break the ranks of the APC who have proven that they have no principles at all. They will also want a share of the cake. I was hoping for APC that has the likes of Fashola as controlling power blocs not the likes of Nyako and Wammako. Its back to square 1. And GEJ will again win the PDP presidential primaries....hands down.

Since 2001, out of 24 fields allocated to 31 indigenous firms, only 8 have started producing!!!
Still, they are doing another round of bidding for abandoned, brown fields with limited exploitation.

#They are MaD#

Its time for government to turn some of its business and political allies into overnight billionaires, and also an avenue to placate some of its enemies. It is advisable for the government to exert more pressure on the NASS for the expeditious passage of the PIB before any new acreage allocation licenses, lease awards and renewal.

[quote
author=take dat]Its time for government to turn some of its business
and political allies to overnight billionaires, and also an avenue to
placate some of its enemies. [/quote
Is there anything wrong in doing that? When ur time comes, u can turn ur enemies into billonaires and see how it works out good 4 u.

^ What are you on about? Please I have low tolerance for stupidity.

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politics is so much fun

***correction-m strategizing is so much fun, GEJ has 2015 to loose... no more, no less

open bid? just like they open bid for phcn sale... we already know people that will buy d oyel fields. we have crooks in government. that's how they duped innocent Nigerians on immigration recruitment.over 500, 000 people applied when they know they can't recruit even 10,000. where is d money generated? no exams date, house tellin d minister to refund and even immigration boss saying he knew nothing about d recruitment just show that we are indeed in total mess

Abeg how do I bid? Is it really open like "EBAY"?

Oil licensing.

No wonder some people can kill to become president.

This is the game changer.

GEJ means good for this country but still,this is a game of power control and its all what politics is about. He wants to show show is boss. The incumbent has so much power in this country than you can imagine and no body can oppose him. I pray God will guide GEJ to govern this country better.

In the coming days..expect Scathing and Extremely damaging articles on this matter from Sahara Reporters..but Diezani & GEJ sef no d see them

I hope it ends up being transparent in the long run

manny4life: Abeg how do I bid? Is it really open like "EBAY"?

how to bid? Log on 2 www.whereurmoney.com/na_beans?

I can see no LIKES. This is the kind of news that makes some people wish they had DELETE buttons.

Which oilfields exactly, people are already going round snapping photos of exits and entryways and looking for kinship/affinity all on top greed or because they think they smell money.


some even bought ticket and traversed the seven seas on top the same.

Nnewi1stSon: Palm oil you mean right?

Ibo boy, Lagos and Ogun States have discovered crude deposits in commercial quantum. Before exploration however, the FG would have to appprove all processes and grant the procedures a safe way of passage. Besides, that will alter the revenue sharing formula and RMFAC allocations once the crude are being sold. So its not as easy as ABC. The approval from the FG is also politically dependent.

Fadelex: open bid? just like they open bid for phcn sale... we already know people that will buy d oyel fields. we have crooks in government. that's how they duped innocent Nigerians on immigration recruitment.over 500, 000 people applied when they know they can't recruit even 10,000. where is d money generated? no exams date, house tellin d minister to refund and even immigration boss saying he knew nothing about d recruitment just show that we are indeed in total mess

We certainly are.

davide470: Since 2001, out of 24 fields allocated to 31 indigenous firms, only 8 have started producing!!!
Still, they are doing another round of bidding for abandoned, brown fields with limited exploitation.

#They are MaD#

Lol

buy at your peril oil is already a worthless commodity which is why the Oil companies are selling off all their stock.

Oil prices is being artificially kept high by the US until their oil companies could dupe locals to buy worthless stocks.

Mark my words the minute the US sells of enough of its investment in oil you would see that oil prices would crash.

God help Nigeria