{"id":90266,"date":"2021-12-28T21:58:19","date_gmt":"2021-12-28T20:58:19","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=90266"},"modified":"2021-12-28T21:58:19","modified_gmt":"2021-12-28T20:58:19","slug":"upstream-regulatory-commissionto-close-out-2020-marginal-field-bid-round-programme","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/upstream-regulatory-commissionto-close-out-2020-marginal-field-bid-round-programme\/","title":{"rendered":"Upstream Regulatory CommissionTo Close Out 2020 Marginal Field Bid Round Programme"},"content":{"rendered":"
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to close out the 2020 marginal field bid round programme and has put in place all necessary machinery to progress the bid round exercise to conclusion in line with the Petroleum Industry Act 2021 (PIA).<\/div>\n
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The Commission Chief Executive, Mr Gbenga Komolafe in a notice to participants in the programme indicated that an in-house work team\u00a0has already been constituted to\u00a0deal with outstanding issues,\u00a0including distilling and addressing the concerns of awardees with a view to close out issues affecting multiple awardees per asset\u00a0and formation of\u00a0Special Purpose Vehicles (SPV) by awardees in line with the respective letters of award.<\/p>\n

Consequently, the Commission has enjoined awardees with\u00a0the indicated\u00a0issues\u00a0to\u00a0avail themselves of the resolution mechanism provided,\u00a0in the overriding national interest.<\/p>\n

Mr Komolafe\u00a0also stated that the Commission\u00a0is collaborating with lease holders to agree on transition mechanisms in line with the PIA and the aspirations of government for the marginal field bid round exercise.<\/p>\n

While restating that\u00a0the 45\u00a0days period for payment of signature bonus by\u00a0successful awardees\u00a0as stipulated by the Marginal Field Guidelines\u00a0has lapsed, he assured\u00a0those\u00a0who have fully paid their signature bonuses that as regulator\u00a0and\u00a0business enabler, the Commission will ensure that all applicable guidelines to enable them progress\u00a0to the next stage of the exercise,\u00a0are\u00a0fully implemented<\/p>\n<\/div>\n

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to close out the 2020 marginal field bid round programme and has put in place all necessary machinery to progress the…<\/p>\n","protected":false},"author":1,"featured_media":90267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-90266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nUpstream Regulatory CommissionTo Close Out 2020 Marginal Field Bid Round Programme - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/upstream-regulatory-commissionto-close-out-2020-marginal-field-bid-round-programme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upstream Regulatory CommissionTo Close Out 2020 Marginal Field Bid Round Programme - 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