HeadlinesOil & Gas DPR concludes marginal field bid round with awards of certificate to 81 winners. By maritimemag June 3, 2021135 views ShareTweet 0 Chinazor Megbolu The Department of Petroleum Resources (DPR), has announced the conclusion of the 2020 marginal oilfield bid round. The federal government agency said the just concluded bid round was the first successful bid since 2003 when 24 assets were put on offer. The process, which culminated in the presentation of letters to the bid winners in Abuja by the industry regulator, started in June last year, with 57 marginal fields spanning land, swamp and offshore put up for lease by the federal government. This came just as the Nigerian National Petroleum Corporation (NNPC) yesterday unfolded plans to acquire shares in five more private refineries in Nigeria, bringing to six its interests in refineries it is targeting. The DPR noted that 161 successful companies were shortlisted to advance to the final stage from 591 entities that applied for pre-qualification. The organisation also listed the companies, which won as; Matrix Energy, AA Rano, Andova Plc, Duport Midstream, Genesis Technical, Twin Summit, Bono Energy, Deep Offshore Integrated, Oodua Oil, MRS and Petrogas. Others are: North Oils and Gas, Pierport, Metropole, Pioneer Global, Shepherd Hill, Akata, NIPCO, Aida, YY Connect, Accord Oil, Pathway Oil, Tempo Oil and Virgin Forest, and a host of others. It was a big win for local oil and gas companies, which had a good outing during the ceremony as 100 per cent of the beneficiaries of the exercise were indigenous firms. The Director, DPR, Mr. Sarki Auwalu, hinted that a total of 591 firms submitted expression of interest forms, and at the end, 540 were pre-qualified, while 482 were bids submitted by 405 applicants. “In the end, 161 companies were shortlisted as potential awardees, out of which 50 per cent has met all conditions and therefore eligible for awards today. “We are set to ensure opportunities are extended to other deserving applicants to fill the gap. “The DPR is not just a regulator, we are an opportunity house. We drive creativity and transformation and we use these in all of our activities. This is done in the overriding national interest. “The bid will enhance economic growth, increase Gross Domestic Product (GDP) and create employment, while with the experience garnered before now, mistakes of the past will be avoided,” Auwalu said. He, however, averred that a technical workshop will be organised with all bid winners for guidance on field development and operations. Auwalu said the agency will support the bid winners to operate within the Nigeria’s oil and gas sector, asking the bid winners to take advantage of the oil and gas centre. “Despite the daunting challenges of the triple force (oil price crash, global pandemic and production cuts) in 2020, which dealt a severe blow on the world market and global economy, the DPR forged ahead with government aspirations for the industry,” he said. He further explained that in the course of the bid round, the exercise was carried out in two phases, with expression of interest and prequalification, as well as technical and financial phase. Auwalu stated that the DPR has now provided opportunities through the marginal field bid round to indigenous operators for wealth creation and economic growth consistent with government’s drive for increased GDP, job opportunities and also revenue boost. “The DPR will continue to follow up and guide the awardees every step of the way. For instance, a guiding template of working agreement has been drafted for joint awardees and discussions have reached advanced stage between DPR and lease holders on the Farmout agreement and other technical enablers,” he said © 2021, maritimemag. All rights reserved.