MoPE Public Update on Licensing of Petroleum Blocks

Below is the latest update from our friends at MoPE... great to see FAR and a couple of our close allies in the mix!

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Link: MoPE Public Update

PUBLIC UPDATE ON LICENSING OF PETROLEUM BLOCKS

The Ministry of Petroleum and Energy in its quest to license six open oil exploration blocks has initiated a robust licensing process. Through this process, the Ministry is determined to undertake a transparent, fair and competitive process in order to get the best value for the country’s potential oil resources. Given the complexity of the licensing process, the Ministry is being supported by a team of consultants through an African Development Bank funded facility and a multi-institutional national Petroleum Negotiating Committee. The support teams have drafted a Petroleum Exploration and Production Licence Agreement (PEPLA) and a Request for Information (RfI) screening form. Through an open and transparent process, companies were invited to make a submission on company competencies. Twenty-two companies expressed interest in four blocks. Their submissions were evaluated and ten companies shortlisted for the next stage, listed below in alphabetical order: CNOOC INTERNATIONAL, CNOOC UK, ENISERVIZI, FAR GAMBIA, IMPACT OIL AND GAS LTD, PETRONAS, TALON PETROLEUM, TOTAL, TULLOW/WOODSIDE and SVENSKA PETROLEUM EXPLORATION AB. The Ministry will be launching the Request for Proposal (RfP) as the next stage which will allow the shortlisted companies make proposals on key technical and commercial terms inline with the drafted PEPLA.

By: Ministry of Petroleum and Energy