The Department of Petroleum Resources (DPR) has concluded arrangements to issue award letters to successful investors in the 2020 marginal field bid round programme.
Mr Paul Osu, Head, Public Affairs, DPR, Paul Osu,who disclosed this today,said the letters would be issued at an award ceremony scheduled to hold in Abuja on May 31.
He said the successful investors who would be receiving their award letters were companies that had fully satisfied all requirements listed in the marginal field bid round guidelines.
He said this included full payment of signature bonuses within the specified time frame.
Osu said the DPR would continue to provide transparent regulatory oversight for the oil and gas industry to enable business and create opportunities for investors.
Over 600 companies had applied to be pre-qualified for the bid rounds which began on June 1, 2020.
The agency explained the objective was to deepen indigenous participation in the oil and gas industry as well as add to the country’s production and reserve.
The marginal field bid round programme is also designed to provide technical and financial partnerships for investors,it added
