Audrey Lotechukwu
FRI, MAY 15 2020-theG&BJournal- The Federal Government say it has slated the auction of the Nigeria’s marginal oil fields for the end of year.
The Minister of State for Petroleum Resources, Timipre Marlin Sylva disclosed this Thursday during a media briefing organised to provide status update on the operations of the oil and gas industry.
Sylva noted however, that the bid for the bigger acreages which would have on offer, concessions in the shallow offshore and deep off-shore assets would be dependent on the passage of the Petroleum Industry Bill due to the need to stabilize the fiscal framework.
56 fields are on offer and the go ahead for the auction was given earlier in April by President Muhammadu Buhari.
The last marginal field auction was held in 2002 and 24 fields was allotted to 32 companies in 2003.
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