Nigerian Marginal Fields: New Bid Round and New Guidelines

Nigeria’s Department of Petroleum Resources (“ DPR ”) announced on 1 June 2020 the launch of a new marginal field bid round. Fifty-seven marginal fields have been made available, being a mix of onshore, swamp and shallow-offshore fields. The DPR also released new guidelines covering the bid process, the award and farm-out of marginal fields and their operation (“ Guidelines ”). We consider the essential features of marginal fields – a somewhat complex arrangement of law, regulation and practice – along with the significant requirements of the 2020 bid process and new Guidelines, and the...