#Country Updates #News #Nigeria #Upstream Oil & Gas News

Nigeria to Set Up Agency For Oil Bid Rounds

The Nigerian government has concluded plans to set up an agency to be known as National Acreage Management Strategy (NAMSTRA) before the end of this year.

The agency will be responsible for putting in place strategies to determine and manage the nation’s periodic bid rounds in the oil and gas industry.

Director of the DPR, Mr Sarki Auwalu, who dropped the hint at a webinar, stated that setting up the agency is necessary, given the role of the marginal fields to national revenue and economic development. Also, the fact that the last bid round was about 17 years ago.

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Source: OrientEnergyReview

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