Friday, March 31, 2023
Home EXPLORATIONS 17 marginal oil fields producing in Nigeria- NUPRC 

17 marginal oil fields producing in Nigeria- NUPRC 

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), chief executive, Engr. Gbenga Komolafe, has said that 17 out of the 30 marginal oil fields awarded beginning from 2020 are currently producing.

Komolafe who delivered a key note address at the 2022 Annual conference of the Association of Energy Correspondents of Nigeria (NAEC) with the theme: Energy Transition – PIA and Marginal Field Prospects and Challenges held in Lagos, noted that since its inception, a total of thirty (30) fields have been awarded, with seventeen (17) currently producing. 

A breakdown of the allocation of the fields to indigenous operators is as follows: two fields awarded in 1999, 24 in 2003/2004, one each in 2006 and 2007, and two in 2010. Ten years after, in 2020, 57 fields were put up for bidding.

It will be recalled that one of the major tasks inherited by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), upon its inauguration last year, was the need to conclude the 2020 Marginal Field Bid Round exercise. Consequently, we pursued the matter frontally and are delighted to inform you that the exercise which commenced in June 2020 has been concluded with the issuance of Petroleum Prospecting License (PPL)to the deserving awardees.

The issuance of the PPL, he said, has ushered in a new dawn for our indigenous operators to hit the ground running in developing their awarded assets in line with industry best practices and to take full advantage of the increasing crude price in the international market.

“It is significant to note that the passage of the Petroleum Industry Act has brought an end to the era of Marginal Field awards. Section 94(9) of the Act states that “No new Marginal Field shall be declared under this Act”. Accordingly, the Minister shall now award PPL on undeveloped fields following an open, fair, transparent, competitive, and non-discriminatory bidding process in line with Sections 73 and 74 of the Act.

“Historically, the marginal fields award initiative of Government was borne out of the need to establish the indigenization policy in the Upstream sector of the oil and gas industry and build local content capacity. Beside these, it was also targeted at creating employment opportunities and encouraging increased capital inflow to the sector”, he explained.


Nigeria targets 400,000bpd from Owowo, Bonga

He explained that following the approvals for Field Development Programmes (FDP) for some of the 2020 marginal field bid investors, the commission is optimistic of exceeding the OPEC quota.

OML 65: Sirius concludes $200m loan deal with Trafigura

OML 65 is a producing onshore block with 2P reserves of 51 mmbbls.   The existing producing field, Abura, which has been in production since the 1970s, has been ascribed 16.2 mmbbls remaining 2P reserves1 and is currently producing c.10,500 bopd.

Nigeria engages Wood Mackenzie for seven deep offshore blocks bid process

He noted that the the Mini Bid Round is a market-driven programme expected to outperform the last bid round which held in April 2007 during which a total of 45 blocks were put on offer under a different regulatory regime (the Petroleum Act, 1969). 


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Nigeria’s Minister of State for Petroleum resigns

Sylva’s resignation comes at a time of political transition in Nigeria, with President Muhammadu Buhari serving his final weeks in office before giving way to President-elect Bola Tinubu on May 29.


Our attention has been drawn to a sponsored sensational report by some online publications on a charge brought against the Bank. 

Egbin Power boosts nation’s supply, restores sixth unit

It said: “We are pleased to announce the successful restoration of ST-6 after extensive repairs, including replacement of HIP & LP steam turbine blades and Generator overhauling, in addition to the in-house inspections for Boiler and Balance of Plant.

Transcorp Plc delivers strong performance as revenue rises by 21%

The conglomerate saw a 7% increase in its Power investments, despite the challenges faced in the year from the issues with gas supply, off the diminished Oil & Gas production in the country in 2022. 

Recent Comments