President Bola Tinubu has approved the sale of more oil and gas fields abandoned by the international oil companies, IOCs.

The President has given the greenlight for conduct of fresh marginal field bid for the gas fields which have been lying fallow for over a decade.

This was disclosed by the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, during a facility tour of Waltersmith Petroman Oil Limited’s modular refinery in Ibigwe, Ohaji-Egbema Local Government Area of Imo State, on Wednesday.

The minister said the bid exercise would commence “soon.”

The new bid round is coming barely three years after about 57 marginal oilfields were put up for sale in 2020 and the process effectively concluded last year, amid many of the awardees still struggling to move to site for development of their assets due largely to funding and regulatory challenges.

The minister, in a statement issued yesterday, by the Nigerian Content Development and Monitoring Board (NCDMB), disclosed that he had obtained presidential approval to conduct a fresh round of bidding, which would take place soon.

He promised that, “marginal fields would (henceforth) be prioritised in terms of their location to those who have modular refineries, so that they will be able to produce.”

The marginal field exercise is exclusively reserved for Nigerian companies as the federal government through the policy offers opportunity to local firms to participate more actively in the country’s oil and gas exploration and production space.

According to the Minister, “The quickest way to fix our energy challenge in the country should be through modular refineries, while we await the total rehabilitation of the big refineries.”

Thonyboy:
According to the Minister, “The quickest way to fix our energy challenge in the country should be through modular refineries, while we await the total rehabilitation of the big refineries.”

erico2k2:
The sale of NEPA was the wisest move ever, however we need tight policy to hold thos it was sold to accountable,1st of such policy should have been the complete outlaw of estimated billing, by now we all should have pre paid meters so no light no bill.

ALMUSTAQIM:
Another good move from the First Class President, PBAT2331

All your good policies will eventually fall in place for Nigeria, Insha Allah.

Nigeria will become greater

God bless Nigeria

pricklewane:
Proven by who ?
Your foolish Igbo father or did Chicago State University not affirmed Tinubu graduate with first class honour from it institute ?!

ALMUSTAQIM:
Another good move from the First Class President, PBAT2331

All your good policies will eventually fall in place for Nigeria, Insha Allah.

Nigeria will become greater

God bless Nigeria

Bobloco:


When did CSU affirmed that

Please don't derail this thread, we have since gone past that stage

I was merely pointing out that you are regurgitating a lie that have long been casted

seunmsg:


You’re the one spewing rubbish. The university clearly said the president graduated with first class honors. Even David Hundeyin had to shamelessly admit that the president truly attended and graduated with first class from CSU. Stop lying about others to make yourself feel good. It’s even more annoying when you’re lying about an information that’s publicly available and easily verifiable.

Thonyboy:

https://.ng/2023/11/23/tinubu-approves-sale-of-more-oil-and-gas-fields/

ALMUSTAQIM:
Another good move from the First Class President, PBAT2331

All your good policies will eventually fall in place for Nigeria, Insha Allah.

Nigeria will become greater

God bless Nigeria