“NUPRC RAISES BAR: ONLY TECH-SAVVY BIDDERS WITH DEEP POCKETS NEED APPLY
GREATRIBUNETVNEWS–Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is prioritizing technical and financial capacity in the ongoing licensing round for 50 oil and gas blocks. Here are the key highlights:
– Strict Criteria: Only applicants with strong technical and financial credentials will proceed to the critical stage of the bidding process.
– 5-Step Process : Registration and pre-qualification, data acquisition, technical bid submission, evaluation, and commercial bid conference.
– Signature Bonuses : Set within a value range that reduces entry barriers, focusing on technical capability, credible work programs, and financial strength.
– Transparency: The process will comply Transparency, with public and institutional scrutiny through NEITI and other oversight agencies.
_”The process follows five steps: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference,”_ Mrs. Oritsemeyiwa Eyesan, NUPRC Chief Executive.
_”Only candidates with strong technical and financial credentials, professionalism, and credible plans move forward,”_ Eyesan added.
_”Let me emphasise that the Nigeria 2025 Licensing Round is not merely a bidding exercise. It is a clear signal of a re-imagined upstream sector,”_ Eyesan stated.
During the webinar, subject matter experts from the NUPRC explained the guidelines, model contracts, bid parameters, and evaluation criteria in order to help investors navigate uncertainty and operate within a framework that is transparent, predictable, and deliberately designed to inspire confidence,Eniola Akinkuotu
Head, Media and Strategic Communication said in a statement
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