FG outlines conditions to marginal fields awardees

Eligible awardees who have fully or partly complied with signature bonus payment in the 2020 marginal field programme will get the Federal Government’s policy position for the marginal field bid on Thursday.

The policy position would be announced at a forum being planned by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja.

The commission disclosed this in a statement issued in Abuja on Tuesday and signed by its Chief Executive, Gbenga Komolafe.

The statement read in part, “The objective of the engagement forum is to state the policy position of the commission for the marginal field bid round.

“This is to enable the progress of the exercise in line with the programme guidelines and compliance with the Petroleum Industry Act 2021.

“The forum will also appraise, distil and clarify issues associated with the MFBR and provide relevant updates on status to all stakeholders in line with the transparency policy of the government.”

It said all eligible awardees and relevant international oil companies associated with the MFBR were expected to attend the meeting.

The NUPRC had earlier announced that participating interest for marginal fields where the potential awardees failed to pay all the required signature bonuses would be offered to reserve bidders.



Please enter your comment!
Please enter your name here