| Work Detail |
As part of this operation, the Petroleum Regulatory Authority intends to give priority to the development of natural gas. Nigeria will auction undeveloped oil and gas blocks next year, prioritising natural gas development to support the countrys commitment to the UN Sustainable Development Goals, the oil regulator said on December 18 . It would be the third block auction since the country passed an oil sector overhaul law in 2021, part of efforts to boost oil production to fund government spending. “The licensing round is more than a commercial exercise, it is a bold statement that Nigeria is ready for business,” Gbenga Komolafe , head of the Nigerian Upstream Petroleum Regulatory Commission ( NUPRC ), told a tender conference in Lagos. Mr Komolafe said Nigerias bidding round opened in February for new offshore oil blocks had ended and successful bidders would receive licenses for their blocks in the coming months . |
