The Department of Petroleum Resources (DPR) has on Monday disclosed that Nigeria has launched its first licensing round for marginal oilfields in almost 20 years. "A total of 57 fields located on land, swamp and shallow offshore terrains are on offer," DPR tweeted.
The licensing round is the first marginal field round since 2002, this the Federal Government hopes will help boost oil output, generating revenues from license fees among others.
The DPR in April revoked about eleven existing licenses in efforts to put in the new licensing rounds. Among the revoked licenses include Dawes Island Marginal Oil Field, formerly OML 54 and Ororo Field, OML 95.
However, a court ruling has barred some oilfields from being included in the marginal field licensing round.
In a lawsuit against DPR, Owena Oil and Gas Ltd, said DPR revoked its license "without recourse to the plaintiff."