August 26, 2017

By Chineme Okafor in Abuja

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that the federal government would soon open bids to concession 30 marginal oil fields in the country.

The corporation stated this in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu in Abuja.



The statement noted that NNPC’s Group Managing Director, Dr. Maikanti Baru, spoke on the marginal fields while hosting members of the Independent Petroleum Producers Group (IPPG) led by its chairman, Ademola Adeyemi-Bero, at the NNPC Towers.

At the meeting, Baru urged members of the IPPG to participate in the forthcoming bid rounds for the 30 marginal oil fields. He also urged them to take advantage of the low crude oil price regime to develop their capacity and acquire technology in the oil industry.

Baru, stated that there was a lot of opportunities in the marginal fields which would soon be available, urging the IPPG to work hand-in-hand with the Department of Petroleum Resources (DPR) to ensure that they met the conditions that would be required from bidders.

“The marginal oil field lease renewal is an opportunity for your group. You will need to engage the DPR early in discussion to find out the conditions that the federal government is interested in. For example, the supply of gas to power plants and fertilizer plants and I think your group will be successful,” said Baru.

He also tasked the IPPG members to ramp up their collective production from 10 per cent of national production to 50 per cent in the next 10 years in order to increase the footprint of indigenous companies in the upstream sub-sector as is the case in the downstream sector.

According to him, the corporation was passionate about collaborating with the indigenous producers in order to grow their capacity and participation in the exploration and production sub-sector in line with government’s local content policy.

NNPC, he added, was very proud of them and was looking forward to a time when about 90 per cent of upstream operations in the country would be controlled by them.

Baru, applauded members of the group for their productive community engagement which had stemmed the incidence of pipeline sabotage along the Trans Forcados Pipeline and enjoined them to extend similar gesture to the communities around the other crude oil lines to help stabilise national production.

According the statement, Adeyemi-Bero, in his earlier remarks, said the group was made up of 25 active indigenous producers.

He noted that they were driven to support the 12 Business Focus Areas (BUFA) of the current management of NNPC and the Seven Big Wins of the government.

Adeyemi-Bero lauded the government for initiating the Joint Venture cash call exit programme, stressing that the move would bolster their activities in the upstream sub-sector.

The IPPG was formed a year ago with the mandate to promote and advance the collective interest of members in a coordinated manner as a unified advocacy platform for government policies in the upstream sub-sector of the oil and gas industry.

https://www.thisdaylive.com/index.php/2017/08/26/fg-to-open-bid-rounds-for-30-marginal-oil-fields-invites-local-players/

Cc:Lalasticlala

Good news. Let us ensure equity in the sharing. Nigeria is known for sharing. The states should be be doing this and not the federal government. Vv

Our patrimony is about to be shared to cronies.
The idea of opening bids is to make it legit and acceptable.

Oil money is sweet. Nigeria must remain one. Our unity is not negotiable. God punish Nnamdi Kanu and his useless followers. God bless Buhari. Biafra will never come

lol, are they no longer searching for groundnut oil in the northern deserts of Borno?
nonsense.



All of Nigeria's oil, gas, condensate and tar sands are in the south, you guyz better get used to that fact.

don't believe anything from this government

Built2last:
Our patrimony to be shared to cronies

'our'??

Which one belong to you in all the oilfields?

Nice one

Time to give this a trial

Now the door is opened for all local companies irrespective of the owner tribe to bid for oil fields. But like we all know, a certain tribe will still cry of marginalization later. Bunch of cry babies

Every president of Nigeria acquires oil wells during their administration, it's buhari's turn....he should acquire for his family and friends...

He shouldn't deceive us by saying the bid is "open"....ode!

MediumStout:
Oil money is sweet. Nigeria must remain one. Our unity is not negotiable. God punish Nnamdi Kanu and his useless followers. God bless Buhari. Biafra will never come

Continue ranting. You'll be taken unawareness.

Some people feel those fields are their birthright. I wonder if this country would've remained one if those fields are in the north like Bornu, Kano and Sokoto?.
Oil is what unites Nigeria, my take.

They know themselves already

MediumStout:
Oil money is sweet. Nigeria must remain one. Our unity is not negotiable. God punish Nnamdi Kanu and his useless followers. God bless Buhari. Biafra will never come

talk for yourself, and stop talking nonsense

but I tot we moving from fossil fuel to green fuel

If only it will be transparent and based on merit and not given to 'tailors' and old men due to nepotistic reasons

scholes0:
lol, are they no longer searching for groundnut oil in the northern deserts of Borno?
nonsense.

We have decided to finish extracting your oil first.

Thank you for 2015 about to commence...

We are definitely bidding.

Don't ask me who we are

Lemme check my account balance if i still have money

Ersan:


We have decided to finish extracting your oil first.

Great response.

Since they too use Lagos port for cargoes, then we would use ND oil for export as well

Ersan:


We have decided to finish extracting your oil first.

lol, there is nothing in the north.
And even if there was anything, you lots will still remain as poor as church rats. Like Niger (which actually has some oil) but remains poor as fck.

What I have come to realize over the years is that resources do not generate wealth for the average man, good institutions do.

Quality20:
but I tot we moving from fossil fuel to green fuel

Even potus 45 doesn't believe in climate change

scholes0:
lol, are they no longer searching for groundnut oil in the northern deserts of Borno?
nonsense.

You must show your stupidity in public