{"id":101855,"date":"2023-11-24T11:22:41","date_gmt":"2023-11-24T10:22:41","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/tinubu-approves-sale-of-more-oil-and-gas-fields-2"},"modified":"2023-11-24T13:41:28","modified_gmt":"2023-11-24T12:41:28","slug":"tinubu-approves-sale-of-more-oil-and-gas-fields-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2","title":{"rendered":"Tinubu approves sale of more oil and gas fields"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>President Bola Tinubu has approved the sale of more oil and gas fields abandoned by the international oil companies, IOCs.<\/p>\n

The President has given the greenlight for conduct of fresh marginal field bid for the gas fields which have been lying fallow for over a decade.<\/p>\n

This was disclosed by the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, during a facility tour of Waltersmith Petroman Oil Limited\u2019s modular refinery in Ibigwe, Ohaji-Egbema Local Government Area of Imo State, on Wednesday.<\/p>\n

The minister said the bid exercise would commence \u201csoon.\u201d<\/p>\n

The new bid round is coming barely three years after about 57 marginal oilfields were put up for sale in 2020 and the process effectively concluded last year, amid many of the awardees still struggling to move to site for development of their assets due largely to funding and regulatory challenges.<\/p>\n

The minister, in a statement issued yesterday, by the Nigerian Content Development and Monitoring Board (NCDMB), disclosed that he had obtained presidential approval to conduct a fresh round of bidding, which would take place soon.<\/p>\n

He promised that, \u201cmarginal fields would (henceforth) be prioritised in terms of their location to those who have modular refineries, so that they will be able to produce.\u201d<\/p>\n

The marginal field exercise is exclusively reserved for Nigerian companies as the federal government through the policy offers opportunity to local firms to participate more actively in the country\u2019s oil and gas exploration and production space.<\/p>\n

According to the Minister, \u201cThe quickest way to fix our energy challenge in the country should be through modular refineries, while we await the total rehabilitation of the big refineries.\u201d<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. President Bola Tinubu has approved the sale of more oil and gas fields abandoned by the international oil companies, IOCs. The President has given the greenlight for conduct of fresh marginal field bid for the gas fields which have been lying fallow for over a decade. This was disclosed by the Minister […]<\/p>\n","protected":false},"author":84,"featured_media":101854,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,456,254,945],"class_list":["post-101855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-gas","tag-nigeria","tag-tinubu"],"yoast_head":"\nTinubu approves sale of more oil and gas fields - Nigeria<\/title>\n<meta name=\"description\" content=\"President Bola Tinubu has approved the sale of more oil and gas fields abandoned by the international oil companies, IOC ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tinubu approves sale of more oil and gas fields\" \/>\n<meta property=\"og:description\" content=\"President Bola Tinubu has approved the sale of more oil and gas fields abandoned by the international oil companies, IOC ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-24T10:22:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-24T12:41:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700813240.569908.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1424\" \/>\n\t<meta property=\"og:image:height\" content=\"802\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tinubu approves sale of more oil and gas fields\",\"datePublished\":\"2023-11-24T10:22:41+00:00\",\"dateModified\":\"2023-11-24T12:41:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2\"},\"wordCount\":292,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/11\/sm_1700813240.569908.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"gas\",\"Nigeria\",\"Tinubu\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/tinubu-approves-sale-of-more-oil-and-gas-fields-2\",\"name\":\"Tinubu approves sale of more oil and gas fields - 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