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ARTICLE · 11 JUNE 2020

Analysing The 2020 Marginal Fields Bid Round

AELEX
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The Federal Government of Nigeria, through the Department of Petroleum Resources (DPR), recently announced the commencement of the marginal fields bid round for 2020.

NigeriaEnergy and Natural Resources
Crystal Okwurionu
Crystal Okwurionu
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Introduction

The Federal Government of Nigeria, through the Department of Petroleum Resources (DPR), recently announced the commencement of the marginal fields bid round for 2020. The criteria and procedure for the process have been documented in the Guidelines for the Award and Operations of Marginal Fields in Nigeria (the "Guidelines") which was approved on May 31, 2020. If successful, it will be the second marginal fields bid round to be conducted in Nigeria, after the 2002/03 marginal field bid rounds which saw the award of 24 fields to 31 indigenous companies.

What are marginal fields?

A marginal field is defined in the Guidelines as any field that has been discovered and has been left unattended for a period of at least 10 (ten) years, from the date of first discovery, or such field which the President1 may from time to time identify as a marginal field.2

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