The Federal Government has announced that a total of 128 awardees that emerged as successful bidders in the 2020 Marginal Field Bid Round have made complete and part payments for signature bonuses in the oil fields.
It also disclosed that 33 awardees did not make payments during the 45 days window given to successful bidders to pay the required signature bonuses for the oil fields.
As such, they have lost their awards to suitably qualified reserve bidders.
The government further said that it had so far gotten about N174bn from the marginal oil field bid round programme.
This was revealed in Abuja at a meeting with the marginal field awardees and leaseholders where the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) outlined the policy position of the government on the 2020 MFBR.
While giving his keynote address at the meeting, the Chief Executive, NUPRC, Gbenga Komolafe, said, “Fifty-seven fields were identified for the 2020 bid round exercise and a total of 665 entities expressed interest. After extensive evaluation processes as laid down in the guidelines, 161 entities emerged as potential awardees.
“Signature bonuses for 119 awards were fully paid, nine awards were partly paid for and 33 awards were not paid for. This has resulted in various challenges inhibiting the close-out of the exercise.”
Komolafe added, “The marginal field guidelines provided for 45 days for the payment of signature bonus which has since elapsed, and we have issued a public notice to that effect as well as notified the relevant potential awardees.
“It is pertinent to inform you that concerted efforts are being made to ensure that the 2020 MFBR exercise is completed within the shortest possible time.”
