The Nigerian Upstream Petroleum Regulatory Commission on Tuesday said it was set to close out the 2020 marginal field bid round programme. It said the NUPRC had put in place all necessary machinery to progress the bid round exercise to conclusion in line with the Petroleum Industry Act 2021.
The Chief Executive Officer of the commission, Gbenga Komolafe, in a notice to participants of the programme on Tuesday, indicated that an in-house work team had already been constituted to deal with outstanding issues.
He said the issues include distilling and addressing the concerns of awardees with a view to closing out matters affecting multiple awardees per asset and formation of Special Purpose Vehicles by awardees in line with the respective letters of award.
Komolafe in a statement issued by the commission, enjoined awardees with the indicated issues to avail themselves of the resolution mechanism provided by the NUPRC in the overriding national interest.
He also stated that the commission was collaborating with leaseholders to agree on transition mechanisms in line with the PIA and the aspirations of the government for the marginal field bid round exercise. He said the 45 days period for payment of signature bonus by successful awardees as stipulated in the Marginal Field Guidelines had lapsed.
