Winners have emerged in the ongoing 2024 oil licensing bid round holding at the Eko Hotel, Lagos.
The bid round, which is the first to be conducted under the Petroleum Industry Act 2021 (PIA), aims to attract investment, improve the efficiency and transparency of the licensing process and further develop the petroleum basin.
In the PPL 269 bid, Petroli Energy Marketing and Supply Limited outbid Afagaf Company Limited to emerge as the winner. Sahara Deepwater Resources Limited won the PPL 270 bid ahead of AMG Exploration and Production Limited.
Sahara Deepwater also won the PPL 271 License ahead of competition from RBO Energy Services Limited and Kalm Marine Petroleum Exploration and Production Nigeria Limited.
Totalenergies with a 126 points emerged the winner in the PPL 2000/2001 beating Star Deepwater Petroleum Limited who scored 125 points.
For PPLs 2002, 2003, 2004, 2005 and 2006, BISWAL Oil and Gas, First E & P Development Company, Dewayles International Limited, Applefield Oil and Gas Limited and First E and P Development Company Limited, respectively. won the licences being the sole bidders in their respective categories.
Similarly, PPLs 2007, 2008, and 3007 went to R28 Holdings Limited, Tulcan Energy E & P Company Limited and Oceangate Engineering Oil and Gas Limited.
Broron Energy Limited and Star Deepwater Petroleum Resources Limited competed for PPL 2009, with the former emerging as winner, just as PPLs 3011, 3012, 3015, 3016 and 3017 all had sole bidders.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) conducted the bid round, which is a key aspect of the country’s oil and gas sector. The commission is responsible for regulating the upstream petroleum sector, including the issuance of licenses and permits.
The 2024 licensing round is a significant milestone in the development of Nigeria’s oil and gas sector.
The round aims to attract investment, improve the efficiency and transparency of the licensing process, and further develop the petroleum basin.