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NNPC task local players to bid for 30 marginal fields

The Nigerian National Petroleum Corporation (NNPC) has tasked local players in the oil and gas sector to bid for the forthcoming bid round for 30 marginal fields to be flagged off by the Federal Government.

The Group Managing Director of NNPC, Dr. Maikanti Baru stated this yesterday in Abuja when the Independent Petroleum Producers Group (IPPG) led by its Chairman, Engr. Ademola Adeyemi-Bero paid him a courtesy call.

He also urged them to take advantage of the low crude oil price regime to develop their capacity and acquire technology needed function optimally in the sector.

According to him, there were lots of opportunities in the marginal fields which will soon be unveiled, even as he urged the IPPG work closely with the Department of Petroleum Resources (DPR) to ensure that they met the stipulated conditions of potential bidders.

“The marginal oil field lease renewal is an opportunity for your group. You will need to engage the DPR early in discussion to find out the conditions that the Federal Government is interested in. For example, the supply of gas to power plants and fertilizer plants and I think your group will be successful,” Baru advised.

The NNPC GMD also tasked the IPPG members to ramp up their collective production from 10 per cent of national production to fifty per cent in the next 10 years in order to increase the footprint of indigenous companies in the upstream sub-sector as is the case in the downstream.

Baru stated that the Corporation was passionate about collaborating with the indigenous producers in order to grow their capacity and participation in the exploration and production sub-sector in line with government’s local content policy.

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