The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the Federal Government gained N200 billion and $7 million from the 2020 marginal oil fields bid round yesterday.
NUPRCs Chief Executive Officer (CEO), Gbenga Komolafe, announced the news at the unveiling of the host communities’ development Petroleum Prospecting Licences (PPLs) and presentation of 47 PPLs to 2020 marginal oil fields awardees in Abuja.
Komolafe said two fields were awarded in 1999; 24 fields in 2003/2004; one in 2006 and 2007; two in 2010 and 57 fields were awarded 10 years after (2020).
Furthermore, he clarified that since inception, a total of 30 fields have been awarded 17 currently producing.
Komolafe, while emphasizing the transparency process, said NUPRC has been very committed to beneficial ownership disclosure in the bidding process, saying the Beneficial Ownership (BO) reporting requires full disclosure of ownership information.
The NUPRC boss noted that the Nigerian Oil and Gas Asset Beneficial Ownership Register (NOGABOR) portal has been developed by requisite compliance by oil and gas companies.
