The second Nigerian Marginal Field Bid Round throws up 31 oil and gas fields, 15 of which are in shallow water, (and 16 onshore), all in the Niger Delta basin. The round is open only to Nigerian Exploration and Production Companies. Guidelines for Farm Out and Operations of Marginal Fields 2013, published on the DPR website declares that “The indigenous company shall be substantially Nigerian and shall be registered solely for exploration and production business. At the pre-qualification stage, attention shall be paid to the following regarding the promoting team:
- Background and experience with exploration and production at sufficiently high level.
- Niger Delta representation.
- Federal Character representativeness.
The application form (for bidding) shall attract non-refundable chargeable fees as follows:
- Application fee: =N=200,000.00 (Two Hundred Thousand Naira) per field.
- Data prying fee: $3,000.00 (Three Thousand US Dollars) per field. Data prying shall be on appointment.
- Bid Processing Fee: Naira) =N=300,000.00 (Three Hundred Thousand Naira) per field.
Part of the criteria for evaluation is that a company shall confirm willingness to pay a Signature Bonus of $300,000 (Three Hundred Thousand US Dollars) if successful. Such monies will be paid into the CBN/Accountant –General FGN Account by Telegraphic Transfer.
The Nigerian government’s definition of a marginal field “is any field that has (oil and gas) reserves booked and reported annually to the Department of Petroleum Resources (DPR) and has remained un-produced for a period of over 10 years.
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