July 18, 2024

Nigeria Govt withdraws five oil blocks from 2024 bidding round over limitation

The Nigeria Federal Government has removed five oil blocks earlier put up for the ongoing 2024 licensing round due to legal disputes.

The Nigerian Upstream Petroleum Regulatory Commission confirmed the development in a recent circular.

Accordingly, the five oil blocks are said to be under various litigation, however, NUPRC did not state the litigants.

The affected assets are PPL3008, PPL3009, PML51, PPL267, and PPL268.

Recall that the five blocks were among the 12 initially announced by the NUPRC Chief Executive, Gbenga Komolafe, at the Miami International Roadshow for the 2024 licensing round hosted by the NUPRC in collaboration with the Petroleum Technology Association of Nigeria and Zetse Advisory & Consulting.

Initially, the NUPRC listed 12 oil blocks bidding, including, PPL 300-CS; PPL 301-CS; PPL 3008; PPL 3009; PPL 2001; PPL 2002; PML 51; PPL 267; PPL 268; PPL 269; PPL 270; and PPL 271.

“However, PPL3008, PPL3009, PML51, PPL267, and PPL268 have been removed from the Bid process due to ongoing litigation,” the NUPRC said in a notice.

“Also, by the published guidelines, we have earlier indicated that some of the assets on offer should be applied as a single unit, namely: PPL 300-CS & PPL 301-CS, PPL 2000 and PPL 2001″, NUPRC said

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