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The Department of Petroleum Resources has stated in a release that some firms will not participate in the 2020 marginal fields bid round as a result of their indebtedness to the Federal Government.

These debts include non-payment of taxes, tariff, fees or other levies. Some other forms were disqualified because their directors happen to be directors in other companies that failed to pay statutory fees, adding that pre-qualification of such companies would be on hold until such directors pay their debts. It further added that firms yet to be pre-qualified for the next batch have a deadline set for Friday, July 24 to meet up with the requirements.

The DPR stated that after the pre-qualification stage, the next would be Data Prying, Leasing and Purchase of Reports scheduled for Monday, July 20-August 30, 2020. Submission of technical and financial bid is also scheduled for same dates.

Marginal fields are smaller oil blocks that are developed for indigenous companies. The licensing round is the first marginal field round in seventeen years and the government believes that the licensing round will further the growth of oil production and bring in revenues from the licensing fees.

The DPR noted that towards the early days of this month, more than 600 companies applied to be pre-qualified for the bid rounds of 57 marginal oilfields in the country.

2003 was the last time Nigeria conducted marginal field bid rounds and this current exercise has because of the credible and transparent procedures placed by the agency, drawn widespread interest.

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