The Department of Petroleum Resources (DPR) in Nigeria has announced that over 600 companies have already applied to be prequalified for the ongoing bid rounds of the marginal oilfields in the country.
The Director of the Department, Auwalu Sarki, said this is credited to the transparency and credibility of the procedures put in place by the DPR. Last month, the DPR commenced marginal fields bid round for 57 fields, the first of its kind since 2003.
He said this proves that Nigeria is continuing to show its readiness for business and it remains a desired destination for investors from all over the world.
He highlighted the steps taken by the DPR to help contain the spread of COVID-19 and prevent a second wave of the pandemic in the Nigerian oil and gas industry and by extension, the country at large. Some of them are the reduction of workers on offshore locations and construction sites, decontamination, conducting of several tests, following the safety precautions outlined by the relevant authorities and working closely with the Nigerian Centre for Disease Control.
Excerpts from his statement to reporters on Tuesday 7th July 2020.
“First I will say that we have really witnessed an increase in bidders after the extension of the deadline to June 21. There has been almost 30 per cent increase in the participation.”
“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. Everything is going perfectly.”
“We have outlined survival kits post-COVID-19 which involves four key strategies.
“These include rationalisation of portfolios, strategic partnerships among Nigerian companies, new business opportunities using technology to get it done and cost control and management to see how best we can strive to take the nation to the next level.”
“Then, expectations are four. Innovation and resilience, partnership and collaboration as well as industry growth and business development.”
“This is what we are sending in the message to the entire industry because we need each other to really awaken the giant in this country and make it an investors haven.”
/strong%20in%20strongNigeria/strong%20has%20a%20href=https://www.dpr.gov.ng/over-600-companies-bid-for-nigerias-57-marginal-oilfields-dpr/announced/a%20that%20over%20600%20companies%20have%20already%20applied%20to%20be%20prequalified%20for%20the%20ongoing%20bid%20rounds%20of%20the%20marginal%20oilfields%20in%20the%20country.The%20Director%20of%20the%20Department,%20Auwalu%20Sarki,%20said%20this%20is%20credited%20to%20the%20transparency%20and%20credibility%20of%20the%20procedures%20put%20in%20place%20by%20the%20strongDPR/strong.%20Last%20month,%20the%20strongDPR/strong%20a%20href=https://ibekachikwu.com/nigeria-commences-2020-marginal-fields-bid-round-for-57-fields/commenced/a%20marginal%20fields%20bid%20round%20for%2057%20fields,%20the%20first%20of%20its%20kind%20since%202003.He%20said%20this%20proves%20that%20strongNigeria/strong%20is%20continuing%20to%20show%20its%20readiness%20for%20business%20and%20it%20remains%20a%20desired%20destination%20for%20investors%20from%20all%20over%20the%20world.He%20highlighted%20the%20steps%20taken%20by%20the%20strongDPR/strong%20to%20help%20contain%20the%20spread%20of%20COVID-19%20and%20prevent%20a%20second%20wave%20of%20the%20pandemic%20in%20the%20Nigerian%20oil%20and%20gas%20industry%20and%20by%20extension,%20the%20country%20at%20large.%20Some%20of%20them%20are%20the%20reduction%20of%20workers%20on%20offshore%20locations%20and%20construction%20sites,%20decontamination,%20conducting%20of%20several%20tests,%20following%20the%20safety%20precautions%20outlined%20by%20the%20relevant%20authorities%20and%20working%20closely%20with%20the%20Nigerian%20Centre%20for%20Disease%20Control.Excerpts%20from%20his%20statement%20to%20reporters%20on%20Tuesday%207supth/sup%20July%202020.em“First%20I%20will%20say%20that%20we%20have%20really%20witnessed%20an%20increase%20in%20bidders%20after%20the%20extension%20of%20the%20deadline%20to%20June%2021.%20There%20has%20been%20almost%2030%20per%20cent%20increase%20in%20the%20participation.”/emem“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.%20Everything%20is%20going%20perfectly.”/emem“We%20have%20outlined%20survival%20kits%20post-COVID-19%20which%20involves%20four%20key%20strategies./emem“These%20include%20rationalisation%20of%20portfolios,%20strategic%20partnerships%20among%20Nigerian%20companies,%20new%20business%20opportunities%20using%20technology%20to%20get%20it%20done%20and%20cost%20control%20and%20management%20to%20see%20how%20best%20we%20can%20strive%20to%20take%20the%20nation%20to%20the%20next%20level.”/emem“Then,%20expectations%20are%20four.%20Innovation%20and%20resilience,%20partnership%20and%20collaboration%20as%20well%20as%20industry%20growth%20and%20business%20development.”/emem“This%20is%20what%20we%20are%20sending%20in%20the%20message%20to%20the%20entire%20industry%20because%20we%20need%20each%20other%20to%20really%20awaken%20the%20giant%20in%20this%20country%20and%20make%20it%20an%20investors%20haven.”/ema%20href=https://ibekachikwu.com/wp-content/uploads/2020/06/acc46bb0-0887-4991-b2bc-0cba249557be.jpgimg%20class=size-medium%20wp-image-2002%20aligncenter%20src=https://ibekachikwu.com/wp-content/uploads/2020/06/acc46bb0-0887-4991-b2bc-0cba249557be-300x236.jpg%20alt=%20width=300%20height=236%20//a){kind=link}