The Nigerian Government has awarded 57 marginal fields to about 49 new investors, adding that a total of N202.91bn was raked in by the government from the just concluded 2020 marginal field bid round.
It also revealed that 13 out of the 30 marginal fields awarded since 1999 were not producing crude oil, as only 17 of the fields were currently meeting the target of crude oil production.
The government disclosed this during the issuance of the Petroleum Prospecting Licence to the successful awardees in the 2020 marginal field bid round. This, it said, was pursuant to the provisions of the Petroleum Industry Act 2021.
This came as successful awardees, such as Matrix Energy Group, Petrogas Energy, among others, promised to begin oil search from the fields in earnest to boost the country’s crude oil production.
In his address at the event, the Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, stated that one of the major tasks inherited by the NUPRC upon its inauguration last year, was the need to conclude the 2020 bid round.
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