Nigeria raises $477 million in Marginal Oil Field development Licenses – Report – Nairametrics

NORDSJØEN 14.08.15: Maersk Interceptor, verdens største oppjekkbare rigg på Ivar Aasen-feltet i Nordsjøen. Første produksjonsboring. Adm.dir. Johnny Hersvik, styreleder Sverre Skogen. Foto: Marie von Krogh
The Federal Government of Nigeria (FG) has awarded licenses to develop Margin Oil Fields in Nigeria.
This follows a frustrating two-year process and multiple court cases which earlier restrained the FG from offering licenses to winners of marginal oil fields.
Ijaw leaders in Bayelsa had earlier put up a fight seeking to halt licensing on marginal oil fields located in their areas.
The report revealed that the Nigerian Upstream Petroleum Regulatory Commission issued 49 petroleum prospecting licenses to more than 100 companies, compared to the original 57 bids it was seeking 2 years ago.
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