Reports indicate that the Nigerian Government has withdrawn five oil blocks listed for the 2024 licensing round due to legal disputes, specifically over regulatory constraints.
Confirming the development, the Nigerian Upstream Petroleum Regulatory Commission(NUPRC), in a secular, stated that the oil blocks are under various litigations, underscoring its pivotal role in the matter.
The assets affected are PPL3008, PPL3009, PML51, PPL267, and PPL268.
The five blocks were initially among the 12 announced by Gbenga Komolafe, the NUPRC Chief Executive, at the Miami International Roadshow for the 2024 licensing round, which was hosted by the NUPRC in collaboration with the Petroleum Technology Association of Nigeria and Zetse Advisory & Consulting.
The initial 12 oil blocks mentioned include PPL 300-CS, PPL 301-CS, PPL 3008, PPL 3009, PPL 2001, PPL 2002, PML 51, PPL 267, PPL 268, PPL 269, PPL 270, and PPL 271.
The NUPRC stated, “However, PPL3008, PPL3009, PML51, PPL267, and PPL268 have been removed from the Bid process due to ongoing litigation,” the NUPRC said in a notice.
“Also, by the published guidelines, we have earlier indicated that some of the assets on offer should be applied as a single unit, namely: PPL 300-CS & PPL 301-CS, PPL 2000 and PPL 2001″.