The Department of Petroleum Resources (DPR) yesterday concluded the 2020 marginal oilfield bid round, the first successful bid since 2003 when 24 assets were put on offer. The process, which culminated in the presentation of letters to the bid winners in Abuja by the industry regulator, started in June last year, with 57 marginal fields spanning land, swamp and offshore put up for lea...

The Federal Government on Monday disclosed that out of 7,000 oil reserves that have been discovered in the country, only 1,700 of the reserves are currently producing crude oil. The government disclosed this in Abuja through its Department of Petroleum Resources. It however, stated that measures were being put in place to produce oil from additional reserves in order to achieve the...

Indigenous oil firms, A.A. Rano, Shafa Exploration, Matrix Energy, and Vhelblerg Exploration were among oil companies awarded marginal oil field licence by the Department of Petroleum Resources, DPR, on Monday. The award came a year after 2020 marginal field bid round began with 591 companies applying to win 57 oil fields on offer. The oil fields are located onshore, swamps and offshore....

Following the expiration of deadline given to all Petroleum Marketers by the Department of Petroleum Resources (DPR) within when to register their retail outlets into its e-Station platform, Abia State Field Office of DPR has advised Petroleum Marketers in the State to cue into the platform or risk not having their operational license renewed.  Recall that the DPR Field Office in Umua...

The Department of Petroleum Resources (DPR), yesterday, announced that it had concluded arrangements to issue award letters to successful investors in the 2020 marginal field bid round programme. In a statement signed by the Head, Public Affairs of the organisation, Mr. Paul Osu, it noted that the award ceremony has now been officially scheduled to hold on Monday, May 31, in Abuja. T...

The Department of Petroleum Resources (DPR) says it has concluded arrangements to issue award letters to successful investors in the 2020 marginal field bid round programme. The DPR said the letters would be issued at an award ceremony scheduled to hold in Abuja on May 31. Mr Paul Osu, Head, Public Affairs, DPR, made the announcement in a statement on Saturday in Lagos. The News...

The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Department of Petroleum Resources, DPR, have mutually agreed to work in partnership towards curbing stealing of crude oil and improve on the industry’s transparency drive of the present administration. Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, during a meeting with the Director of the DPR, Sarki Auw...

The Department of Petroleum Resources (DPR) has stated that the country needs over $2 billion monthly revenue to remain sustainable as a nation. The Director, DPR, Sarki Auwalu, warned that without this monthly income, the economy would be in doldrums as over 70 per cent of the $2 billion is presently being realized through the nation’s oil and gas sector. Auwalu stated this at a DPR/...

The Federal Government has said it is expecting most of the marginal fields, which investors bid for in the recently concluded bid round, will achieve first oil starting from next year. The Director/Chief Executive Officer, Department of Petroleum Resources, Mr Sarki Auwalu, said this on Wednesday during a strategic engagement session in Lagos with the Nigeria Extractive Industries Tr...