It also disclosed that 33 awardees did not make payments during the 45 days window given to successful bidders to pay the required signature bonuses for the oil fields and as such had lost their awards to suitably qualified reserve bidders.
It disclosed this in Abuja at a meeting with the marginal field awardees and leaseholders where the Nigerian Upstream Petroleum Regulatory Commission outlined the policy position of government on the 2020 MFBR. He said, “Fifty-seven fields were identified for the 2020 bid round exercise and a total of 665 entities expressed interest. After extensive evaluation processes as laid down in the guidelines, 161 entities emerged as potential awardees.
Komolafe added, “The marginal field guidelines provided for 45 days for the payment of signature bonus which has since elapsed, and we have issued a public notice to that effect as well as notified the relevant potential awardees.
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