NNPC calls for more indigenous participation in next bid rounds for 30 marginal fields

The Nigerian National Petroleum Corporation (NNPC) has called for more indigenous participation during the forthcoming bid rounds for 30 marginal fields.

The Group Managing Director of the corporation, Dr Maikanti Baru, made the call during a visit by the delegation of Indigenous Petroleum Producers Group (IPPG) led by its Chairman, Mr Ademola Adeyemi-Bero, at the NNPC Towers in Abuja.

He also urged them to take advantage of the low crude oil price regime to develop their capacity and acquire technology.

Dr Baru stated that there were lots of opportunities in the marginal fields which would soon be available urging the IPPG to work hand-in-hand with the Department of Petroleum Resources (DPR) to ensure that they meet the conditions that would be required from bidders.

“The marginal oil field lease renewal is an opportunity for your group. You will need to engage the DPR early in discussion to find out the conditions that the Federal Government is interested in. For example, the supply of gas to power plants and fertilizer plants and I think your group will be successful,” Dr Baru advised.

The NNPC GMD also tasked the IPPG members to ramp up their collective production from 10 per cent of national production to 50 per cent in the next 10 years in order to increase the footprint of indigenous companies in the upstream sub-sector as is the case in the downstream.