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ARTICLE · 17 JANUARY 2023

Nigeria Commences Mini-Bid Round 2022

Dentons ACAS-Law
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The Federal Government of Nigeria ("FGN"), through its upstream oil and gas industry regulator, the Nigerian Upstream Petroleum Regulatory Commission ("NUPRC"), has announced the commencement of the mini bid round 2022 ("MBR").

NigeriaEnergy and Natural Resources
Iyunola Adekanye
Iyunola Adekanye
Charles Mafua
Charles Mafua
Ndifreke Asuquo
Ndifreke Asuquo

The Federal Government of Nigeria ("FGN"), through its upstream oil and gas industry regulator, the Nigerian Upstream Petroleum Regulatory Commission ("NUPRC"), has announced the commencement of the mini bid round 2022 ("MBR") 1.

In its announcement, the NUPRC described the MBR as an opportunity to spur new exploration and drilling activities in the prospective deep waters offshore Nigeria and to attract global investors with the capability and proficiency in operating in a deep-water environment. This is consistent with the provisions of the Petroleum Industry Act 2("PIA"), from which the MBR derives its legal basis 3.

It was also stated that the MBR will build on the successes of the last oil block bid round held in April 2007, where a total of 45 (forty-five) blocks, drawn from the inland basins of Anambra, Benue, and Chad; the Niger Delta continental shelf; onshore Niger Delta and deep offshore, were put on offer 4. We note that the MBR will offer 7

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