Nigeria Auctions 30 Oil and Gas Blocs
Published March 19th, 2007
Energy Minister, Edmund Daukoru says Nigeria will announce a new round of exploration licenses for around 30 oil and gas blocs over the next two weeks.
Edmund Daukoru, speaking in Vienna ahead of an Organization of Petroleum Exporting Countries meeting Thursday, told disclosed that the licenses will include both offshore and onshore blocks, including some in the Niger Delta
“By the end of this week or when I get back to Nigeria,” we’ll announce the number of blocks and the location, he said.
Daukoru said bidding for the license will be carried out electronically.
Nigeria has previously announced plans to hold licensing rounds only to delay as a result of technical issues.
International investors have been waiting for months for Nigeria to launch the round, in which countries like India, China and South Korea are expected to be enthusiastic participants.
Meanwhile, an indigenous company, Eterna Oil and Gas Limited, has disclosed its intention to participate in the bid round.
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