Nigeria: Marginal bid round despite PIB delays

The government has announced that 31 marginal fields will be offered to indigenous companies in the country’s first licensing round since 2007. The bid round is going ahead even though the much delayed Petroleum Industry Bill (PIB), which would result in a significant shake up of the fiscal regime, is seemingly no closer to passage. The Department of Petroleum Resources (DPR) has said that only companies with at least 51% Nigerian ownership are eligible to participate. Although the DPR is yet to announce which marginal blocks are being offered, it said that 16 are located onshore in the Niger Delta while the remaining 15 are on the offshore continental shelf.