Nigerian govt begins bidding for 12 oil blocks

The Nigerian government has announced that it has commenced bidding for 12 oil blocks listed for sale.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed this in a statement on Monday in Abuja.
This signals the start of the 2024 Nigeria Petroleum Licensing Round and the resumption of the 2022/2023 mini-bid round.
“On behalf of the Federal Government of Nigeria, the Nigerian Upstream Petroleum Regulatory Commission is pleased to announce the commencement of the 2024 Petroleum Licensing Round,” he said.
On the number of blocks for the offer, Komolafe noted, “We have identified 12 blocks that cut across deep offshore, shallow water, and onshore terrains to be made available to interested investors.”
Recall that the commission issued the first announcement on the bidding process last month.
It also waived the signature bonus requirement in the bidding process to woo foreign investors for the auctioned oil blocks.