After 18 years, the Department of Petroleum Resources, DPR on Monday flagged off marginal fields bid rounds for 2020 as Nigeria reopens her economy after the COVID19 lockdown.
The first bid rounds were held in 2002.
For the 2020 oil bid round exercise, DPR announced that a total of 57 fields located on land, swamp and shallow offshore terrains are on offer.
It added that the exercise which will be conducted electronically, will include expression of interest/registration, pre-qualification, technical and commercial bid submission and bid evaluation.
DPR says payment by interested bidders will attract non-refundable chargeable fees as follows: Application fee of N2 million per field, Bid Processing Fee of N3million per field, Data prying fee of $15,000 per field, Data Leasing fee of $25,000 per field, Competent Persons Report of $50,000 and $25,000 for Fields Specific Report.
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