Members of the Petroleum Technology Association of Nigeria (PETAN) have expressed their interest in bidding for 12 onshore and seven deep offshore blocks that are up for sale.
In a telephone interview with Vanguard, PETAN chairman Engr. Wole Ogunsanya confirmed this.
Ogunsanya mentioned, “We are currently assessing the available fields to determine their viability for our members.”
The 12 Petroleum Prospecting Leases (PPLs) include 300, 301, 3008, 3009, 2000, 2001, 267, 268, 269, 270, 271, and Petroleum Mining Lease (PML) 51. The Deep Offshore Blocks, PPLs, are numbered 300, 301, 302, 303, 304, 305, and 306.
Various indigenous and International Oil Companies (IOCs) are also exploring the potential purchase of these oil assets.
Regarding this trend, Engr. Gbenga Komolafe, Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), acknowledged the interest from potential bidders. He also mentioned that the ongoing Offshore Technology Conference, OTC 2024, is a significant opportunity to attract investors.
He explained, “Our objective at the OTC is to leverage one of the largest oil and gas events worldwide to showcase Nigeria’s significant hydrocarbon resources and investment opportunities. Likewise, we aim to encourage financially and technically capable players to participate in the deep offshore sector for a successful Nigerian 2024 licensing round.”
Speaking further, he stated, “This aligns with President Bola Ahmed Tinubu’s affirmation that Nigeria is open for business, as evidenced by recent Executive orders offering fiscal and policy incentives to enhance oil and gas sector operations.
“As the implementing body of the government, NUPRC is dedicated to realizing the sector goals and the President’s focus, in accordance with the Petroleum Industry Act (PIA).
“Having already made local announcements, we are now taking the bidding process offshore by launching it in the roadshow.”