The Department of Petroleum Resources (DPR) has reportedly issued a pre-qualification notice to companies that were successful in their application for the ongoing Marginal Fields Bid Rounds on 57 marginal fields in Nigeria.
There is no official release yet from the DPR showing details of all the companies that qualified for the round but according to BusinessDay, a note to one of the successful companies last Friday from DPR read “Your pre-qualification application is successful. A formal letter will be forwarded to you in due course.”
It was earlier announced by the Director of DPR, Auwalu Sarki, that over 600 companies have applied for the rounds. He attributed this high number to the transparency of the process and the belief of investors on the huge potentials in Nigeria which prompts them to want to invest.
The on-going marginal oil field round is the first of its kind since 2003, 17 years ago.
The DPR also extended the deadline for submission which the Department said allowed for about 30% more notification of interest from potential investors.
Previous bid rounds in the country have been met with the challenge of getting local oil companies that win the bids, to develop the fields, due to several circumstances. The Department assured that it has put all necessary measures in place to ensure there is no repetition of such or any legal case this time around.
RELATED READ: DPR ANNOUNCES CHANGE IN MARGINAL FIELD ALLOCATION
Excerpts from Mr Sarki’s statement to the press from two weeks ago:
“If you are making a bid or auctioning any oil field, you need to get 10 people per field really going after the field. We have 57 fields and we have over 600 companies. So we can say that we are celebrating success so far.”
“After the extension, we are moving according to schedule and now we are in the phase where we do pre-qualification for the bidders to apply.”
/strong%20has%20reportedly%20issued%20a%20pre-qualification%20notice%20to%20companies%20that%20were%20successful%20in%20their%20application%20for%20the%20ongoing%20a%20href=https://ibekachikwu.com/nigeria-commences-2020-marginal-fields-bid-round-for-57-fields/Marginal%20Fields%20Bid%20Rounds/a%20on%2057%20marginal%20fields%20in%20strongNigeria/strong.There%20is%20no%20official%20release%20yet%20from%20the%20DPR%20showing%20details%20of%20all%20the%20companies%20that%20qualified%20for%20the%20round%20but%20a%20href=https://businessday.ng/energy/oilandgas/article/dpr-issues-pre-qualification-notice-to-successful-bidders-for-nigerias-marginal-fields/according%20to%20BusinessDay/a,%20a%20note%20to%20one%20of%20the%20successful%20companies%20last%20Friday%20from%20DPR%20read%20emYour%20pre-qualification%20application%20is%20successful.%20A%20formal%20letter%20will%20be%20forwarded%20to%20you%20in%20due%20course./emIt%20was%20earlier%20a%20href=https://ibekachikwu.com/nigeria-dpr-announces-it-has-received-over-600-bids-for-the-ongoing-bid-rounds-of-marginal-oilfields/announced/a%20by%20the%20Director%20of%20DPR,%20Auwalu%20Sarki,%20that%20over%20600%20companies%20have%20applied%20for%20the%20rounds. He%20attributed%20this%20high%20number%20to%20the%20transparency%20of%20the%20process%20and%20the%20belief%20of%20investors%20on%20the%20huge%20potentials%20in%20strongNigeria/strong%20which%20prompts%20them%20to%20want%20to%20invest.The%20on-going%20marginal%20oil%20field%20round%20is%20the%20first%20of%20its%20kind%20since%202003,%2017%20years%20ago.The%20strongDPR/strong%20also%20extended%20the%20deadline%20for%20submission%20which%20the%20Department%20said%20allowed%20for%20about%2030%%20more%20notification%20of%20interest%20from%20potential%20investors.Previous%20bid%20rounds%20in%20the%20country%20have%20been%20met%20with%20the%20challenge%20of%20getting%20local%20oil%20companies%20that%20win%20the%20bids,%20to%20develop%20the%20fields,%20due%20to%20several%20circumstances.%20The%20Department%20assured%20that%20it%20has%20put%20all%20necessary%20measures%20in%20place%20to%20ensure%20there%20is%20no%20repetition%20of%20such%20or%20any%20legal%20case%20this%20time%20around. h4a%20href=https://ibekachikwu.com/nigeria-dpr-announces-change-in-marginal-field-allocation-pppra-announces-new-fuel-price-for-july/RELATED%20READ:%20DPR%20ANNOUNCES%20CHANGE%20IN%20MARGINAL%20FIELD%20ALLOCATION/a/h4 Excerpts%20from%20Mr%20Sarki's%20statement%20to%20the%20press%20from%20two%20weeks%20ago:em“If%20you%20are%20making%20a%20bid%20or%20auctioning%20any%20oil%20field,%20you%20need%20to%20get%2010%20people%20per%20field%20really%20going%20after%20the%20field.%20We%20have%2057%20fields%20and%20we%20have%20over%20600%20companies.%20So%20we%20can%20say%20that%20we%20are%20celebrating%20success%20so%20far.”/emem“After%20the%20extension,%20we%20are%20moving%20according%20to%20schedule%20and%20now%20we%20are%20in%20the%20phase%20where%20we%20do%20pre-qualification%20for%20the%20bidders%20to%20apply.”/em){kind=link}