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ARTICLE · 08 DECEMBER 2021

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The Marginal Field Bid Rounds – What To Know About Resolving Potential Disputes That Could Arise

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The 2021 Marginal Field Bid Rounds concluded with 57 marginal field assets awarded to 161 companies by the Department of Petroleum Resources in what was the 2nd bid round since 2002/2003.

NigeriaLitigation, Mediation & Arbitration
Perenami Momodu
Perenami Momodu
Al-Ameen Sulyman
Al-Ameen Sulyman
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Introduction

The 2021 Marginal Field Bid Rounds ("The Bid Rounds") concluded with 57 marginal field assets awarded to 161 companies by the Department of Petroleum Resources ("DPR") in what was the 2nd bid round since 2002/2003.

According to the Guidelines for the Award and Operations of Marginal Fields in Nigeria ("the Guidelines") released by the DPR, applications for the bid rounds were field-specific, and each bid was to fail or succeed on its account. The Guidelines set down the procedure for competing parties for each field and the criteria for evaluating and selecting winning bids. More importantly, by the provisions of the Guidelines, competing parties were expected to bid for specific fields and pay the applicable fees as it pertains to a specific field.

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