Project Info
Currently, a conventional tender process is in place in the Nigerian oil service/drilling market, which includes a pre-qualification stage, a technical evaluation stage, and a commercial stage. In January 2010, Nigeria's conventional bid process formally changed with respect to the pre-qualification stage.
Description
NIGERIA
Nigeria’s petroleum regulator has provisionally awarded tenders to develop 57 of its marginal oilfields, four sources familiar with the matter told Reuters, which could net the government $500 million in signature bonuses.
Marginal fields are smaller oil blocks typically developed by indigenous companies. Nigeria is looking to production from the fields to bolster state finances and increase local participation in the oil sector, which provides the bulk of the country’s foreign exchange.
