The Department of Petroleum Resources (DPR) has said that it expects the first production of crude from some of the recently awarded 57 marginal oilfields in January 2022.
Director, DPR, Mr Sarki Auwalu, who said this during an engagement session with the Nigeria Extractive Industry Transparency Initiative (NEITI), in Lagos,said the 2020 marginal oilfield bid round was almost at completion stage with successful companies paying their signature bonuses.
He disclosed that the award of the marginal oilfields would increase Nigeria’s oil and gas production capacity and reserves to boost the country’s resources for national development.
According to him, the bid round, which began on June 1, 2020, was aimed at deepening the participation of indigenous companies in the upstream segment of the industry.
He disclosed that said some of the indigenous companies that emerged from previous marginal oilfields bid rounds were today competing with international oil companies, which was very good for the nation.
He disclosed that his agency generated about N452 billion for the Federal Government from January to March. He added that the regulatory agency was targeting an additional N900 billion for the months of April to June.
He said that transparency and accountability were critical to sustaining the industry and assured NEITI of the DPR’s support towards its mandate.
In his remarks,Dr Ogbonnaya Orji, Executive Secretary, NEITI, advocated the need for closer collaboration and technical support from the DPR to improve transparency in the oil and gas industry.
He said NEITI was committed to ending Nigeria’s “resource curse” which had led to poverty, insecurity, poor economy and hopelessness following years of mismanagement.
