By Teddy Nwanunobi
The Department of Petroleum Resources (DPR) has disclosed that it will issue award letters to successful investors in the 2020 marginal field bid round programme, at an award ceremony scheduled to hold in Abuja on Monday, May 31.
DPR’s Head of Public Affairs, DPR, Mr. Paul Osu, who disclosed this, said the successful investors, who would be receiving their award letters, were companies that had fully satisfied all requirements listed in the marginal field bid round guidelines.
He said this included full payment of signature bonuses within the specified time frame.
Osu said the DPR would continue to provide transparent regulatory oversight for the oil and gas industry to enable business and create opportunities for investors.
Valuechain reports that over 600 companies applied to be pre-qualified for the bid rounds which began on June 1, 2020.
The DPR also explained that the objective was to deepen indigenous participation in the oil and gas industry, as well as add to the country’s production and reserve.
It added that the marginal field bid round programme is also designed to provide technical and financial partnerships for investors.