Why Nigeria didn’t benefit from 2003 marginal field bid rounds- DPR

The Department of Petroleum Resources, DPR has explained the reason why Nigeria did not benefit from the last marginal oil fields bid round held in 2003.

Mr. Auwalu Sarki, Director, DPR while delivering a keynote address at the Africa Marginal Oilfield and Independent Producers webinar conference on Monday, said the bid round was fraught with litigations, coupled with other challenges which hampered the development of some of the awarded 24 marginal oilfields to the detriment of the nation.

He was however optimistic that the current exercise which was at the evaluation stage, would not encounter similar issues because of the robust and credible processes put in place by the government.

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Source: OrientEnergyReview

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