Nigeria to Open Bidding for Deep Offshore Oil Blocks
Nigeria plans to auction deep offshore oil and gas licenses for the first time in 15 years, according to a senior government official.
The West African country will launch a bidding round for seven deep-water blocks in November, the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, said by phone. The government issued dozens of such permits between 1993 and 2007 to open up the ocean floor to oil and gas production.
The blocks available are at depths of between about 1,200 meters (3,936 feet) and 3,100 meters, according to Komolafe. They are located off the city of Lagos in southwestern Nigeria rather than off the coast of the Niger Delta further to the east where most of the country’s oil industry is concentrated, he said.
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