The prescribed challenge period for nominated petroleum blocks 6, 7 and 8 will wind down on May 5 and May 8 this year, according to the energy department.
“Deadline for the submission of documents by applicants must be 60 calendar days from date of publication by the nominating party,” the DOE has emphasized. The challenge period was launched first week of March. Upon submission of ‘challenge-offers’ or even without bids from parties, the energy department is mandated to render subsequent decision on the awarding of the specified service area to a qualified investor after compliance with the challenge prescription as well as other requirements.
A nomination scheme is one of the modes set on “offer submission” and interested parties can do that year-round based on their area preference, timeframe as well as budget.
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