Buhari Okays Amendment Of Deep Offshore Bid Round Timeline

Afimag.com

President Muhammadu Buhari has authorized the amendment of the bid round calendar to suit the considerations by local and international investors concerning the schedules to the terminal date.

This was made known in a statement by the head of the Commission Executive, Engr, Gbenga Komolafe, on April 01, 2023.

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By this approval, the Petroleum Resources Minister, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reverted the Deep Offshore Oil block Bid Round Schedule by extending the deadline for the submission of Technical/Commercial proposals to May 19, 2023.

With the new development, the timeline for contract negotiations and signing has also been shifted to between July 3 and 28, 2023.

Komolafe said that the 2022/23 Deep Offshore Oil block Mini-bi Round is progressing in accordance with the Bid Round Schedule as published in the Bid Round Guidelines.

However, the outstanding activities for the conclusion of the exercise include the Technical/Commercial Bid Submission and the Ministerial Consent/Contract Negotiation and Signing