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Nigeria launches licensing round for marginal oilfields - THE NATION
Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, the Department of Petroleum Resources (DPR) said on Monday, despite court rulings last week that barred some of the fields from being auctioned.
The new licensing round is the first marginal field round since 2002, which the country hopes will boost oil output and bring in much-needed revenues from fees associated with the licences.
“A total of 57 fields located on land, swamp and shallow offshore terrains are on offer,” the DPR said in a statement posted on its Twitter feed.
Nigeria revoked the existing licenses on the fields so that they could be put into the new licensing round.
