africa

Nigeria’s marginal bid round wrapped up with 57 licenses awarded


Nigeria’s government has awarded control of 57 oil and gas fields to 161 largely indigenous players participating in the protracted, but now concluded, 2020 marginal field bid round.

At the same time, Abuja unveiled long-awaited Host Communities Development Regulations which govern how companies conduct operations in an environmentally friendly and community friendly manner.


Bids in the round were originally submitted in late 2020 but a combination of factors — including Covid-19, the passage of the Petroleum Industry Act (PIA), non-payment of signature bonuses and bidders unwilling to work together -—conspired to delay the finalisation of awards.



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