Nigerian Government Revokes 33 Marginal Oil Fields Contracts
The Federal Government through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said 33 awardees failed to make signature bonuses payments for the 2020 Marginal field bid round within the 45-day window. THE WILL reports.
NUPRC Chief Executive, Gbenga Komolafe disclosed this at a meeting with marginal field awardees and leaseholders in Abuja, declaring that the awards have been revoked for refusal to meet the 45-day deadline required to pay the signature bonus for the fields.
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Speaking at the meeting on Thursday, Komolafe said only 128 awardees have made signature bonus payments for the fields so far. Information Guide Nigeria
“The marginal field guidelines provided for 45 days for the payment of signature bonus which has since elapsed, and we have issued a public notice to that effect as well as notified the relevant potential awardees.
“It is pertinent to inform you that concerted efforts are being made to ensure that the 2020 MFBR exercise is completed within the shortest possible time”.
He noted that given the high-cost capital and government’s desire to achieve first oil in the fields, the Commission was making concerted efforts “to ensure that the 2020 MFBR exercise is completed within the shortest possible time”. jamb results
Komolafe pointed out that “This engagement with Marginal Field awardees and Leaseholders is for the Commission to state the policy position on the 2020 Marginal Fields Bid Round (MFBR), to enable successful awardees progress to field development phase in line with the Petroleum Industry Act (PIA) 2021″.
