Nigeria’s Upstream Petroleum Regulatory Commission (NUPRC) launched the Mini Bid Round 2022 to spur new exploration and drilling activities in the West African country’s prospective deepwater blocks.
Seven offshore blocks, covering an area of approximately 6,700 square kilometres (km2) in water depths of 1,150 metres (m) to 3,100 m, are up for grabs.
NUPRC said the Mini Bid Round is the first in a series that will be held in accordance with the Petroleum Industry Act 2021 (PIA), with its enhanced legal and regulatory frameworks. The Commission will be managing the bid round, as the statutory body responsible for ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum industry.
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The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analogue data. Additionally, a 3D mega survey plus reprocessed pre-stack time migration, with angle stacks and gathers, is available to prospective bidders.
The portal also provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants. A pre-bid conference is scheduled for January 16, 2023, to provide potential applicants with an opportunity to ask questions they may have concerning the process and requirements. Subsequently, interested companies will be invited to submit their pre-qualification applications by January 31, 2023.
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“The Mini Bid Round is a market-driven programme and will follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world that have the capability and proficiency in operating in deep-water environments,” the Commission wrote in its announcement.
The last mini bid round held in Nigeria, was back in April 2007, when 45 blocks from the inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were put on offer.
That 2007 bid round was held under a different regulatory regime (the Petroleum Act, 1969).
