The 2022 Mini Bid Round has been released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and it offers seven offshore blocks with a combined area of roughly 6,700 sq km and water depths ranging from 1,150 m to 3,100 m.
Gbenga Komolafe, the Commission’s Chief Executive in a statement said: “the success of the Mini Bid Round will ensure all stakeholders gain value from the country’s resources, whilst paying close attention to reduction in carbon emissions, as well as overall Environmental, Social and Governance (ESG) considerations.”
“In order to give information about the bid round process, including the registration and pre-qualification requirements and comprehensive guidance for applicants, NUPRC developed a special program portal for the Mini Bid Round,” he added.
Interested organizations will be encouraged to submit their pre-qualification applications by January 31, 2023, following the pre-bid conference, which is scheduled for January 16; this will give potential applicants the chance to inquire about the Mini Bid Round process and requirements.
“NUPRC will soon give more information and a schedule for this internationally competitive Mini Bid Round. Round is aimed at further development of the deep offshore acreages which will be held in accordance with the Petroleum Industry Act (PIA), 2021 with its enhanced legal and regulatory frameworks that seeks to encourage new investors and investments into the next phase of exploration in this region.
“The Mini Bid Round will be managed by the NUPRC, in line with the provisions of the PIA, as the statutory body responsible for ensuring compliance with petroleum laws, regulations, and guidelines in the Nigerian upstream petroleum industry.
“The National Data Repository (NDR) of NUPRC and our multi-client partners are delighted and ready to support the Mini Bid Round underpinned by high-quality datasets. The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analog data. Additionally, a remarkable quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022), with angle stacks and gathers is also available to prospective bidders. Links to all data can be accessed via the dedicated NUPRC portal.
“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.”