By Eyo Nsima
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has presented seven deep offshore oil blocks to investors in Abuja.

“The National Data Repository (NDR) of NUPRC and our multi-client partners are delighted and ready to support the Mini Bid Round underpinned by high-quality datasets. The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analog data. Additionally, a remarkable quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022), with angle stacks and gathers is also available to prospective bidders. Links to all data can be accessed via the dedicated NUPRC portal”.

“Historically, this Mini Bid Round intends to build on the successes of the last bid round that was held in April 2007 during which a total of forty-five (45) blocks, drawn from the inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were put on offer. The 2007 bid round was held under a different regulatory regime (the Petroleum Act, 1969) and generated massive interest and participation with its attendant revenue which made the exercise a success.

“The trusts are live and running, and the next stage is for the Settlors (the operators) to begin to remit funds into these trustee accounts. The essence is for it to be used in the execution of projects that will have a positive impact in the host community environment in the overall objective of achieving peace within the host communities”.