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									NEITI ROAD SHOW AND SOUTH
     EAST CIVIL SOCIETY
    CAPACITY BUILDING
         WORKSHOP

           24TH to 25TH AUG 2006
        PTOTEA HOTEL NIKE LAKE
              ENUGU STATE


   DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   1
OIL LICENSIN IN NIGERIA
 THE JOURNEY SO FAR




DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   2
      2005 BID PROCESS




DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   3
RIGHT OF THE STATE
•   All the petroleum in Nigeria is vested in the Federal Government,
    whose sole responsibility it is to control the resources and only
    permit their exploitation under license, in accordance with the
    Petroleum Act 1969.
•   The State allocates acreages (licenses) to operators in any such
    areas deemed to have potential for petroleum accumulation at the
    discretion of the Minister of Petroleum Resources. The allocations
    shall be based on a set of criteria made known to qualified and
    deserving companies at the time such blocks are open for bidding.
•   The State reserves the right to participate in the operations of any
    block and to determine the type of contractual arrangements
    between the awardees and the Government.
•   The State reserves the right recommend Local Content Vehicles to
    domicile the provision of local content in line with the Local
    Content policy aspirations of Government.

    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA                      4
    RELEVANT LAWS
•   The major legislations guiding the petroleum industry in Nigeria,
    particularly the oil exploration and production activities are:
•   Petroleum Act 1969 and the Petroleum (Amendment) Decree 1996.
•   Petroleum (Drilling and Production) Regulations, 1969 with
    amendments in 1973, 1979, 1995, 1996 and Petroleum
    (Amendment) Decree 1996.
•   Mineral Oils (Safety) Regulations, 1963.
•   Petroleum Profit Tax Act, 1959 with amendments in 1967, 1970,
    1973 and 1979.
•   Oil Pipeline Act 1956, as amended in 1965.
•   Nigerian National Petroleum Corporation Decree 1977.
•   Associated Gas Re-injection Decree 1979, as amended in 1985.
•   Production Sharing Decree 1999.
•   Deep Water Block Allocations to companies (Back-in-Rights)
    Regulations 2003
•   Oil Prospecting Licenses (Conversion to Oil Mining Leases etc)
    Regulations 2003
      DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA                 5
         MAJOR THRUSTS
• To contribute to long term global energy
  sufficiency.
• To attract the most viable and commercially
  attainable value to Government for its
  hydrocarbon assets in the Niger Delta, the Inland
  basins, and the Deep Offshore.
• To expand opportunities for gas development for
  domestic and export markets.

    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   6
        MAJOR THRUSTS
• To attract new international oil and
  gas operators whose entry will
  stimulate an influx of new
  competitive commercial
  arrangements and technology that
  urge the traditional players of the
  region towards reform.
   DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   7
         MAJOR THRUSTS
• To attempt to reverse the current flight of oil and
  gas exploration to deepwater by stimulating
  onshore Delta and Inland basins with the attractive
  packaging of dormant acreage reacquired from
  existing players and operators.
• To kick-start and accelerate the pace of
  development of strategic downstream projects
  (local refining, IPPs, Petrochemicals, GtL)
  awarded by Government by providing those
  investors with viable opportunities for full value
  chain integration with upstream assets to be
  offered in the 2005 Bid Round.
    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   8
         MAJOR THRUSTS
• To implement a viable and comprehensive Local
  Content policy that emphasizes quantifiable and
  measurable indigene participation, local goods and
  services utilization, technology acquisition and
  capacity building etc.

• To use the opportunity of the 2005 bid round to
  reinforce Nigeria’s commitment to transparency
  and the principles of EITI by modelling
  transparency of award processes employed by
  such notables as Brazil and Norway
    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   9
     GUIDANCE NOTES AND
          WEBSITE
• Prior to announcement by the HMPR all
  necessary information and process were
  prepared and published on the bid round
  website for the information and clarification
  to interested bidders
• www.nigeria2005bidround.com or via
  e-mail info@nigeria2005br.com

    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   10
              2005 Bid Round – Process
                   Bid Preparation

   Data                 Public        Register
 Population         Announcement     Interested
                    and Promotion     Bidders



 Populate all blocks with available – seismic,
  wells, gravity, topo, satellite photos, maps,
  geological & geophysical studies, activities
  list, bid guidelines
 Promote the Round – Information of the oil &
  gas sector, successes, laws and regulations,
  other marketing data.
 Enrol interested companies. LAGOS. NIGERIA
        DEPARTMENT OF PETROLEUM RESOURCES,   11
            2005 Bid Round – Process
                   Pre & Technical Qualification
                         Analyse & Compare         Publish Qualified
 Communication &          Qualities (Local &           Local and
   Data Update              International)           International
                                                      Companies




 Allows bidders to interact with the Bid
  Committee, clarify and update submissions
 Compare the technical qualities of the
  bidders against set guidelines and provide
  feedback to bidders on blocks qualification
  and assignment
 Publish qualified companies and bidders
      DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA
  including assignments.                                12
            2005 Bid Round – Process
                   Commercial Bidding Conference

  Register and             Analyse &            Announce
 Validate Offers         Compare Offers          Results


 Qualified bidders (operators) present their bids in an
  open forum and the bids are validated publicly.
 The bids are instantly analysed against the given
  parameters and weights and the block winners
  established.
 Results are instantly displayed on a video screen in
  front of the audience.
 The winning offer determines the signature bonus,
  work commitment, local content and cost oil ceiling,
  to which the participants in the block have to abide.
       participant who is unwilling LAGOS. NIGERIA
  Any DEPARTMENT OF PETROLEUM RESOURCES, to abide, may drop
                                                        13
  out.
            2005 Bid Round – Process
                             Post Bid

Finalise and Sign         Pay Signature             Commence
       PSC                   Bonus                     Work
                                                    Programme



 Finalisation of contract draft and effective
  signature of contract with relevant arms of
  Government - NNPC, FMF, Justice, FIRS etc.
 The payment of signature bonus would
  normally be due 30 days after PSC signing.
 Monitoring and follow-up of other contractual
  commitments such as work programme and
  fast track development, costs etc
       DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA
                                            14
       Concession map of Nigeria showing blocks on offer         4°                                                                                                                                                                  8°                                                                                                         12°                                                                                                              16°




                                                                                                                              OPL605                                                                                                                                                                                                                                                                OPL702
                                                                                                                                        OPL606
                                                                                             OPL602    OPL603     OPL604                              OPL607                                                                                                                                                                                                                        OPL701
                                                                              OPL601                                                                                    OPL608



                                                                                                                                                                                                                                                                                                       OPL704     OPL705            OPL706                                  OPL709             OPL710        OPL711
                                                                                                                                                                                                                                                                                          OPL703                                                OPL707           OPL708
                                                                                                                                                                            OPL614
                                                                      OPL609                    OPL610             OPL611              OPL612            OPL613


                                                                                                                                                                                                                                                            OPL712            OPL714                   OPL716      OPL717           OPL718      OPL719        OPL720         OPL721            OPL722         OPL723
                                                                                                                                                                                                                                                                                           OPL715
                                                                                                                                                                                                                                                                     OPL713


                                                        OPL615                  OPL616                OPL617              OPL618            OPL619


                                                                                                                                                                                                                                                                                                                                    OPL729      OPL730        OPL731         OPL732            OPL733        OPL734             OPL735
                                                                                                                                                                                                                                                                     OPL724    OPL725      OPL726      OPL727      OPL728

                                                                                                                      OPL623
                                                        OPL620                OPL621                OPL622

                                                                                                                                                                                                                                                                                                                                     OPL736
                                                                                                                                                                                                                                                                                                                                                OPL737
                                                                                                                                                                                                                                                                                                                                                              OPL738         OPL739             OPL740        OPL741            OPL742


                                                  OPL624               OPL625

                                                                                                                                                                                                                                                                                                                                                                                                                       OPL746
                                                                                                                                                                                                                                                                                                                                                               OPL743            OPL744         OPL745
                                                                                                                                                                                                                                                                                                    OPL801      OPL802
                                                        OPL626
                                                                              OPL627




                                                                        OPL628                                                                                                                                                                                                                      OPL803      OPL804            OPL805




                                                                                                                                                                                                                                                                                                    OPL806      OPL807            OPL808

                                                                                                             OPL501
                                                                                                                                   OPL502




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  10 °
1 0°




                                                                                                                                                                                                                                                                                                    OPL809      OPL810            OPL811
                                                                                                             OPL503


                                                                                                                                   OPL505            OPL506
                                                                                                             OPL504
                                                                                                                                                                                                                                                                                         OPL812     OPL813      OPL814            OPL815      OPL816
                                                                                                                                                                                                                                                                                                                                                            OPL817
                                                                                                                                                                                                                                                                                                                                                                        OPL818
                                                                                                                 OPL507            OPL508             OPL509
                                                                                                                                                                      OPL510                                                                                                                                             OPL819                    OPL820

                                                                                                                                                                                                                                                                                        OPL822      OPL823
                                                                                                                                                                        OPL514
                                                                                                                 OPL511                                                                                                                                                        OPL821                            OPL824
                                                                                                                                   OPL512             OPL513



                                                                                                                                                                        OPL515              OPL516                                                          OPL826   OPL827   OPL828    OPL829       OPL830
                                                                                                                                                                                                                                               OPL825



                                                                                                                                                                                                                                                                                                                                                                                                 FEDERAL REPUBLIC OF NIGERIA
                                                                                                                                                                                                                                                                                                                                                                                           MINISTRY OF PETROLEUM RESOURCES
                                                                                                                                                                                              OPL517                          OPL832            OPL833      OPL834   OPL835   OPL836    OPL837
                                                                                                                                                                                                              OPL831




                                                                                                                                                                                                                                                                                                                                                                                          DEPARTMENT OF PETROLEUM RESOURCES
                                                                                                                                                                                                                                                                                                                                                                                                   BLOCKS FOR 2005 LICENSING ROUND
                                                                                                                                                                                              OPL838          OPL839          OPL840            OPL841      OPL842   OPL843




                                                                                                                                                                                                             OPL902
                                                                                                                                                                                           OPL901                                 OPL903        OPL904


              OPL301
                                                                                                                                                               OPL201                                                                                                                                                                                                                                                            Natio nal Bou nda ry
                                                                                OPL307                                                                                                                       OPL914
                                                                                                         OPL308                                                                                                                             OPL906
                         OPL303 OPL304 OPL305               OPL306                                                                                                   OPL203              OPL915

              OPL302
                                                                                                                                                 OPL202                                                       OPL905                                                                                                                                                                                                             State Bo und ary
                                                                                                    OPL474
                                                                                                                                                                                       OPL916
                                                                                                                                                OPL205                                                                     OPL908            OPL909
                                                                               OPL454                                      OPL204
                                                                                                                                                                     OPL206              OPL917                                                                                                                                                                                                                            Blo cks on O ffe r
              OML113     OPL310                OPL311                                                                               OML96
                                                                                                                  OPL274                                                                               OPL907
                                                                         OPL241
                                                                                                      OML103                                OML98
                                                           OPL332                                                                  OML111                          OPL275




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  6°
                                                                                                                                                       OML4
6°




                                                                              20




                                                                                                                                                                                OPL135                                                                                                                                                                                                                                     Allo ca ted Blocks
                                                                                0




                                                                                                                      OML40                                                                                                                    OPL912
              OPL312      OPL313               OPL314                                      OML110    OML95                                           OML38                                                     OPL910         OPL911
                                                           OPL315                                                                                                                         OPL228
                                                                                                                          OML49       OML41
                                                                                                                                                                              OPL280
              OPL317      OPL319               OPL321            OPL323
                                                                                       OML125
                                                                                                   OPL240
                                                                                                OPL239
                                                                                                                                      OML57                       OPL283
                                                                                                                                                                              OML60
                                                                                                                                                                                         OML124
                                                                                                                                                                                                              OPL207
                                                                                                                                                                                                                                                                                                                                                                                                                           Ope n Blocks
                                                                                                                       OML42 OML34                                               OML20
                                                                                                  OML91 OML90 OML43                                                   OML26              OPL277
                                                                                                                                                                                                                                  OPL913
                                                                                                                    OML64
                                                                                    1000




                               OPL325                                                                                               OML30                                                      OML53
                                                                                                OML108
                                                  OPL318                                   OML120    OML89
                                                                                                          OML109
                                                                                                                 OML45
                                                                                                                       OPL281   OML65
                                                                                                                                                                        OML61         OML21
                                                                                                                                                                                           OML16
                                                                                                                                                                                                               OPL208
                                                                                                                                                                                                                                                                                                                                                                                                                           Jo int D eve lopme nt Zone
                                                                       OPL209                                                                                              OML27
                               OPL327
                                                                                             OML121                       OPL287            OML62                                  OML58                     OPL234
                                                                                                                                                          OPL279
                                                                                                                                    OML46
                                                                      200 0




                               OPL328                                                                                 OPL227                                                     OML22                                                OPL231
                                                   OPL320                                     OPL211               OML79                      OML35                  OML28
                                                                                                                                                                                               OML17                     OPL235                                                                                                                                                                                            0 - 2 00m
                                                                                                                                                                                                                                               OPL452
                               OPL329                                                                                              OPL282                                                                                         OPL236
                                                                                                                  OPL458                                  OML32         OML54
                                                                      OPL248                                                                     OML63
                                                                                                                                            OML36                                  OML23                      OML11
                                                                                                                                                                                                                                                   OML114
                                                                                                                                                                                                                                                                                                                                                                                                                           200 - 10 00m
                                                                                                                              OML88                                                                                               OML13
                       OPL330 OPL331               OPL322                                       OML118
                                                                                                                 OML122                     OML59                                     OML24 OML18                OML51
                                                                                                                                                                                                                                               OPL276
                                                                                                                                                                                        OML55
                                                                                                                                                                                                                                                                                                                                                                                                                           100 0 - 2 000 m
                                        3 00




                                                                                                                           OPL263                            OML33     OML29
                                                                                                                                              OPL233                                                         OML52                OML69
                                                                                                                                                                                                                     OML112
                                          0




                                                                                                                                                                  OML66          OML25 OPL278                 OML117                OML68        OML123
                                  OPL334                                                               OPL213                                                                                                                     OPL290
                                                                                                                                      OPL471 OML86                      OPL229                                                              OML67
                       OPL333                      OPL324                     OPL249                                                                                                                              OML99
                                                                                                                               OPL289
                                                                                                                                                               OPL286
                                                                                                                                                                                               OPL467 OML72                OML70                                                                                                                                                                                           200 0 - 3 000 m
                                                                                                                                                                                      OPL285
                       400 0




                                                                                                                                       OML85                                                                   OPL284                          OML115
                                                                                                       OPL214             OPL215                                                                                                                                                                                                                                                                                                                                        N
                       OPL335 OPL336               OPL326                     OPL250                                                  OPL288     OML83
                                                                                                                                                                   OML116       OPL225         OPL90   OML119     OML104 OML100 OML102                                                                                                                                                                                     300 0 - 4 000 m
                                                                                                                                                                     OPL238
                                                                                                                                                         OPL226
                                                                                                                                                                                                                          OPL223
                                                                                                                                                                                                                                                                                                                                                                                                                           400 0m ab ove
                                                                                                                                                                                      OPL220        OPL221      OPL222
                                  OPL337                                    OPL252
                                                OPL338 OPL339 OPL340 OPL251                             OPL242            OPL216            OPL217
                                                                                                                                                         OPL218        OPL219




                                  OPL341 OPL342 OPL343 OPL344 OPL253 OPL254 OPL255 OPL260                                 OPL244
                                                                                                                                                                                                                                                                                                                                                                                     100                              0                  100               200    Kilo m eter s
                                                                                                                                                 OPL245                                             OPL247
                                                                                                                                                                              OPL246
                                                                                                                                                                                                        OPL258
                                                                                                                                                                      OPL257                                                                                                                                                                                                              60                           0                 60             12 0 Mi le s
                                                         OPL345 OPL346 OPL261 OPL262 OPL264 OPL265 OPL266 OPL267                                 OPL256



                                                                                                                                              OPL259
                                                                               OPL268 OPL269 OPL270 OPL271 OPL272 OPL273                                          Joint Dev elopm ent Zone                                                                                                                                                                                                                   Projec tion: Geographic , Minna D atum


                                                                 4°                                                                                                                                                                  8°                                                                                                         12°                                                              Daimler Geographics , (234) 08033228622         16°




           DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA                                                                                                                                                                                                                                                                                                                                                                                                                      15
Blocks on offer geographically spread
  into six zones :

•   Anambra Basin                            9
•   Benue Trough                            16
•   Chad Basin                              13
•   Niger Delta Onshore                     14
•   Niger Delta Shallow Water               11
•   Nigeria Deep Offshore                   14

• TOTAL                                      77
       DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   16
PROMOTION OF 2005 LICENSING ROUND
ROADSHOWS

• Four separate road shows were held
   –   Port Harcourt, (on 24th March);
   –   London (on 4th and 5th April);
   –   Houston on (7th and 8th April), and
   –   Singapore (on the 12th April, 2005).
• The essence of the events was principally to
  showcase the Nigeria Oil and Gas industry and the
  process of the 2005 bid round to the international
  business community.
       DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   17
PROMOTION OF 2005 LICENSING ROUND
ROADSHOWS

• The choice of international road shows in these
  three locations of the world was primarily to
  broaden the publicity of the round towards the
  commitment of government to transparency and
  enormously invigorate the attitude of the
  prospective foreign and indigenous investors, the
  independent and major companies alike to the
  clarion call for investment in the Nigeria
  Upstream oil and gas sector.

    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   18
PROMOTION OF 2005 LICENSING ROUND
ROADSHOWS


  – The opportunity provided the Nigeria political
    elites to be directly involved in an international
    acreage allocation process for exploration and
    production blocks in furtherance to government
    campaign for due process.




   DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   19
Improvements:
Local Content Vehicle
• Local content Vehicle was regarded as an improvement
  to Nigeria acreage allocation.
   – It provided the foreign operating companies of utilizing local
     goods and services in Nigeria, but requires the operation to
     assign certain activities in its work programme to be managed
     on the operator’s behalf under its tutelage by competent local
     companies.
   – The activities which the operator elects to assign and to be
     managed by the Local Content vehicle are biddable items at
     the Commercial Bidding Conference of the 2005 bid round.




    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA                 20
Improvements:
Local Content Vehicle

  – The opportunity to become a Local Content
    Vehicle under this process is available to all
    indigenous companies


  – The process of qualifying the LCV was based on
    three parameters- Financial, Technical Capability
    and status in Society



DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA       21
          Local Content Vehicle
• The process will ensure that only technically and
  financially capable indigenous companies, who
  understand the Nigerian business environment
  properly, are pre-qualified

• Following the Commercial Bidding Conference,
  the successful LCV will be allocated a maximum
  of 10% equity in the block.

     DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   22
   2005 Bid Round – Bid Parameters & Weights
The Commercial Bids was based on 4 parameters:
 Signature Bonus (Weight 40%) – The maximum is scored by bids
  that are twice the minimum or more. Bids are then evaluated at
  percentage over the minimum.
 Cost Oil Ceiling (Weight 20%) – The maximum is scored by bids
  that specify 70% or below. Bids are then evaluated at percentage
  below 80%
 Local Content (Weight 20%) – The percentage of the work
  programme commitment to score the minimum is 30%. Bids are
  scored according to the percentage of work commitment prorated
  below 30%.
 Work Commitment (Weight 20%) - The maximum is scored by bids
  that are twice the minimum. Bids are then evaluated at percentage
  over the minimum.
 All equity in each block that is available for bidding shall be
  publicly announced together with the names of the companies and
  equity allocated to local content vehicles. The maximum equity
  that can be allocated to local content vehicles shall be 10%.
        DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA    23
  Commercial Bidding Conference
• Qualified bidders (operators) submitted
  their bids in an open forum and the bids
  were evaluated publicly.
• The bids were instantly analysed against
  the given parameters and weights and the
  block winners established.
• Results are instantly displayed on a video
  screen in front of the audience.

   DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   24
  Commercial Bidding Conference

• The winning offer determines the
  signature bonus, work commitment, local
  content and cost oil ceiling, to which the
  participants in the block have to abide.
  Any participant who is unwilling to
  abide, dropped out.


    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   25
                                                                        Jan     Feb         Mar   Apr   May   Jun   Jul    Aug
Strategy
Bid Strategy/Local Content Strategy/Bid Guidelines
Definition of Sectors and Blocks
Zonation/Block Definition and Sizing
Set-up Activities
Location of Technical and Support data (maps, satellite photos, maps,
topographical, gravity, seismic and well)
Identify Software Requirement and Developers /Revise Fiscal Terms /
Update PSC / Develop Process Timetable and Milestones / Develop
Technical Template
Industry/International critique of Process
Presidential approvals of Bid Strategy, Software and Timetable
Promotion
Launch Website/Launch Bid Round/Roadshows
Registration of Bidders
Local Content Vehicles / Strategic Downstream Partners / Operators
Technical Qualification of Bidders
Local Content Vehicles / Strategic Downstream Partners / Operators
International Audit of Process (Norway)
Presidential approval of LCVs and Strategic Downstream Partners
/ Bidders
Advertisement of LCVs and Strategic Downstream Projects to
Bidders
Bidding Conference
Instant Announcement of Winners
International Observation (Brazil, Norway, UK, US)
Post Bid
Finalisation of PSC Contracts / Signing Ceremonies

                             Plan                                             Expectation

                            Actual                                            Achieved


                    DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA                                                     26
 SUMMARY OF THE RESULT OF THE NIGERIA 2005 LICENSING ROUND (2005 BID ROUND)
  Zone             Blocks              LCV          Signature Bonus     Work           Local
            Offered Taken Left Offered Taken   Left        ($)      Programme ($)     Content

Anambra        9     5    4      2      2       0        28,322,738    220,820,448         45%
Benue         16     2    14     0      0       0         1,020,000     46,115,268         45%
Chad          13     4    9      0      1      -1         2,121,000    113,918,662         44%

Niger
Delta
Onshore       14    14     0     13     14     -1       765,310,929    561,310,793         44%

Niger
Delta
Contineta
l Shelf**     11    11     0     12     11      0       833,251,000    886,587,001         41%

Deep
Offshore      14     8    6      14      8      6       999,250,000   1,754,075,183        39%
Total         77    44    33     41     36      4     2,629,275,667   3,582,827,355        40%

               DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA                      27
        JOURNEY SO FAR
• BID ROUND FIRMLY CLOSED
• SOME BLOCKS UNPAID FOR
• LEFT OVER BLOCKS THROWN BACK
  INTO THE BASKET FOR THE NEXT
  BID ROUND BEFORE CLOSE OF YEAR



  DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   28
      LESSONS LEARNED
• BIDDERS WOULD THENCEFORTH
  DEPOSIT 25% OF AMOUNT BIDDED
  (THIS IS TO ENSURE THAT THE
  STATE DEALS WITH SERIOUS
  PRINCIPAL PLAAYERS
• FIRMNESS IN DECISION MAKING


  DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   29
   2006 MINI BID ROUND
• THIS WAS HELD IN MAY
• BLOCKS PUT ON SALE WERE
  OBTAINED FROM RELINQUISHMENT
  IN COURSE OF THE PROCESS OF
  CONVERSION OF OPL TO OML
• THE EXERCISE WAS TIED TO
  STRATEGIC DOWNSTREAM
  PROJECTS.

  DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   30
  THANK YOU
     FOR
YOUR ATTENTI0N

DEPARTMENT OF PETROLEUM RESOURCES, LAGOS. NIGERIA   31

								
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