PETAN Members, Others To Bid For Nigeria’s Oil Blocks

 

The Petroleum Technology Association of Nigeria (PETAN) members are interested in bidding for 12 onshore and seven deep offshore blocks, which have been put forward for sale.

 

PETAN chairman, Engr. Wole Ogunsanya, confirmed this in a telephone interview with Vanguard.

 

Ogunsanya said: “We are trying to study the available fields to determine if viable in scale for our members.”

The 12 Petroleum Prospecting Leases, PPLs are 300, 301, 3008, 3009, 2000, 2001, 267, 268, 269, 270, 271 and Petroleum Mining Lease, PML 51 while the Deep Offshore Blocks, PPLs are 300, 301, 302, 303, 304, 305 and 306.

 

Many indigenous and International Oil Companies, IoCs, are also considering the possibility of buying the oil assets.

 

Commenting on the development, the Commission Executive, Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr. Gbenga Komolafe, confirmed the interest of potential bidders, adding that the ongoing Offshore Technology Conference, OTC 2024 presents a great opportunity for wooing investors.

He said: “Our mission at the OTC is to leverage one of the largest oil and gas events globally to showcase the huge hydrocarbon potentials and investment opportunities in Nigeria and in a likewise manner canvass for the participation of financially and technically capable players in the deep offshore to participate at the Nigerian 2024 licensing round for overwhelming success of the important exercise.

 

“This is in furtherance of the declaration of our dear president Bola Ahmed Tinubu, that Nigeria is ready for business with practical demonstration of that through the recent Executive orders on various fiscal and policy incentives to enhance business in the oil and gas sector.

“The NUPRC as the implementing arm of government and the Executive is committed to the implementation of the goals and focus of Mr. President in the sector as demonstrated and in line with the intent of the PIA.

 

“We have announced locally, now that we are going offshore to launch the bid in the roadshow.”