{"id":8347,"date":"2020-06-16T09:07:45","date_gmt":"2020-06-16T09:07:45","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=8347"},"modified":"2020-06-16T09:39:07","modified_gmt":"2020-06-16T09:39:07","slug":"zenh-energy-to-participate-in-nigerias-2020-marginal-field-bid-round","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/zenh-energy-to-participate-in-nigerias-2020-marginal-field-bid-round\/","title":{"rendered":"Zenith Energy to Participate in Nigeria&#8217;s 2020 Marginal Field Bid Round"},"content":{"rendered":"<p class=\"bx\"><span class=\"by\">Zenith Energy has<\/span><span class=\"bz\"> announced its participation, in the capacity of technical and financial partner to a Nigerian registered energy company, in the 2020 bid round for marginal oil and gas fields organised by the\u00a0<\/span><span class=\"be\">Nigerian Department of Petroleum Resources (DPR).<\/span><span class=\"bf\">\u00a0<\/span><\/p>\n<p class=\"ca\"><strong><span class=\"bf\">Overview regarding the 2020 Nigerian Marginal Fields Bidding Round<\/span><\/strong><\/p>\n<p class=\"bx\"><span class=\"bf\">\u00a0<\/span><span class=\"ba\">On\u00a0June 1, 2020, the DPR, on behalf of the\u00a0Federal Government of Nigeria, announced the launch of a new a bid round for a total of 57\u00a0<span class=\"bb\">marginal fields covering a selection of onshore, swamp and shallow-offshore fields (&#8220;2020 Bid Round&#8221;).<\/span><\/span><\/p>\n<p class=\"bx\"><span class=\"az\">\u00a0<\/span><span class=\"az\">The overarching goal of the 2020 Bid Round, following a similar initiative completed successfully in 2001, is to stimulate local commercial participation in the Nigerian petroleum industry and thereby create opportunities for domestic economic development.<\/span><\/p>\n<p class=\"bx\"><strong><span class=\"az\">\u00a0<\/span><span class=\"az\">Further key objectives of the 2020 Bid Round include the following:<\/span><\/strong><span class=\"az\">\u00a0<\/span><\/p>\n<p class=\"cb\"><span class=\"ay\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"ax\">Growing production capacity by increasing the scope of participation in\u00a0Nigeria&#8217;s\u00a0petroleum sector, through diversification of resources and inflow of investments;<\/span><span class=\"ax\">\u00a0<\/span><\/p>\n<p class=\"cd\"><span class=\"ay\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"ax\">Increasing oil and gas reserves through aggressive exploration and development efforts<\/span><span class=\"az\">\u00a0<\/span><\/p>\n<p class=\"bx\"><span class=\"az\">As part of the 2020 Bid Round guiding principles, there is an expectation that the development of these marginal acreages will engender various opportunities to attract international capital and technological expertise in partnership with local Nigerian companies. \u00a0<\/span><span class=\"av\">\u00a0<\/span><\/p>\n<p class=\"bx\"><span class=\"ba\">Under the guidelines provided by the DPR for the 2020 Bid Round a marginal field (Marginal Field) is defined as any field that has been discovered and has been left unattended for a period of not less than ten (10) years from the date of first recovery, or any such field as the President of the Nigerian Federal Government may, from time to time, identify as a Marginal Field.<\/span><span class=\"ba\">\u00a0<\/span><\/p>\n<p class=\"bx\"><span class=\"bf\">The 2020 Bid Round is a process comprised of various stages commencing with pre-qualification of the companies with relevant technical and financial capabilities and duly registered in\u00a0Nigeria\u00a0to carry out Exploration and Production by DPR, followed by submission of a commercial and technical bid for evaluation under a number of criteria by the Honourable Minister of Petroleum Resources (&#8220;HMPR&#8221;), and concluding itself with the potential\u00a0<\/span><span class=\"au\">assignment of a Marginal Field once all necessary formalities have taken place and final approval from the President of\u00a0Nigeria, pursuant to the Petroleum Act (1969), is obtained.<\/span><\/p>\n<p class=\"bx\"><strong><span class=\"ba\">\u00a0<\/span><span class=\"bg\">Non-equity development funding<\/span><\/strong><span class=\"bg\">\u00a0<\/span><\/p>\n<p class=\"bx\"><span class=\"as\">Zenith says it is progressing in negotiations, first announced to the market on March 2, 2020, with an international oil major in order to provide funding for Zenith&#8217;s development objectives in Africa in the form of an offtake agreement.<\/span><\/p>\n<p class=\"bx\"><span class=\"as\">Zenithhas also entered into negotiations with two pan-African financial institutions for a loan facility that will be used to fund the acquisition and development of Zenith&#8217;s growing portfolio in West Africa. \u00a0<\/span><span class=\"bg\">\u00a0<\/span><\/p>\n<p class=\"ce\"><span class=\"bg\">Andrea Cattaneo, Chief Executive Officer, commented:<\/span><\/p>\n<p class=\"bx\"><span class=\"ba\">\u00a0Z<\/span><span class=\"ba\">enith has had ambitions to establish a presence in\u00a0Nigeria\u00a0for a number of years. The launching of the 2020 Bid Round for Marginal Fields, which has not happened since 2001, represents an exceptional opportunity for the Company and its Nigerian partner to acquire an underdeveloped, potentially transformational oil production and exploration asset in the current low oil price environment.\u00a0<\/span><\/p>\n<p class=\"bx\"><span class=\"ba\">\u00a0<\/span><span class=\"ba\">Among the 57 Marginal Fields included in the 2020 Bid Round, there are specific assets which are particularly appealing to Zenith, especially on account of their compatibility with our development objectives. Indeed, the near-term production potential of certain assets is expected to facilitate the achievement of financing agreements to support our expansion. We expect the potential award of a Marginal Field, following the 2020 Bid Round process, to happen within 6 months of bid submission.<\/span><\/p>\n<p class=\"bx\"><span class=\"ba\">\u00a0<\/span><span class=\"ba\">I look forward to updating the market in due course regarding our very exciting progress in\u00a0Africa.&#8221;\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zenith Energy has announced its participation, in the capacity of technical and financial partner to a Nigerian registered energy company, in the 2020 bid round for marginal oil and gas &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/zenh-energy-to-participate-in-nigerias-2020-marginal-field-bid-round\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[7454,7455,1749,7518],"class_list":["post-8347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-department-of-petroleum-resources","tag-marginal-fields","tag-nigeria","tag-zenith-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/zenith.png?fit=603%2C407&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2aD","jetpack-related-posts":[{"id":9176,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zenith-energy-submits-bid-in-nigerias-2020-marginal-field-round\/","url_meta":{"origin":8347,"position":0},"title":"Zenith Energy Submits Bid in Nigeria&#8217;s 2020 Marginal Field Round","author":"","date":"September 21, 2020","format":false,"excerpt":"Zenith Energy has announced that it has submitted a technical and commercial bid\u00a0 with the Nigerian Department of Petroleum Resources (DPR) for a marginal field in the 2020 Marginal Field Bid Round. A total of 57 marginal fields comprising a selection of onshore, swamp and shallow offshore fields have been\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9152,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-adm-energy-submits-bid-in-nigerias-2020-marginal-field-round\/","url_meta":{"origin":8347,"position":1},"title":"NIGERIA: ADM Energy Submits Bid in Nigeria&#8217;s 2020 Marginal Field Round","author":"","date":"September 17, 2020","format":false,"excerpt":"Further to the announcement of 3 August 2020, ADM Energy has announced that it has formally submitted a bid with the Nigerian Department of Petroleum Resources (DPR) for a marginal field in the 2020 Marginal Field Bid Round. \u00a0A total of 57 marginal fields are available to participating companies covering\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8301,"url":"https:\/\/www.oilnewskenya.com\/index.php\/what-it-takes-to-get-a-marginal-oil-and-gas-field-in-nigeria\/","url_meta":{"origin":8347,"position":2},"title":"What it takes to get a Marginal Oil and Gas Field in Nigeria","author":"","date":"June 10, 2020","format":false,"excerpt":"Following its marginal fields licensing rounds in 2001 and 2013, the Nigerian Department of Petroleum Resources (DPR) recently released guidelines on the 2020 licensing round. Under the 2020 licencing round, a total of 57 fields located onshore, swamp, and shallow offshore terrains are on offer; while the ongoing Nigerian Marginal\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/nigeria-oil-gas.jpg?fit=563%2C431&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/nigeria-oil-gas.jpg?fit=563%2C431&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/nigeria-oil-gas.jpg?fit=563%2C431&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8250,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-opens-the-2020-marginal-field-bid-round\/","url_meta":{"origin":8347,"position":3},"title":"Nigeria Opens the 2020 Marginal Field Bid Round","author":"","date":"June 5, 2020","format":false,"excerpt":"The\u00a0Department of Petroleum Resources (DPR) Nigeria\u00a0has opened bids for the commencement of the\u00a02020 Marginal Field Bid Round for indigenous companies and investors interested in Exploration & Production business in Nigeria. Nigeria is offering a total of 57 fields located onshore, swamp and shallow offshore terrains in an exerciseto be conducted\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Nigeria-2020-marginal-field-bid-round-1.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Nigeria-2020-marginal-field-bid-round-1.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Nigeria-2020-marginal-field-bid-round-1.jpg?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Nigeria-2020-marginal-field-bid-round-1.jpg?resize=700%2C400 2x"},"classes":[]},{"id":8747,"url":"https:\/\/www.oilnewskenya.com\/index.php\/adm-energy-oilbank-pre-qualifies-in-bidding-for-nigerian-marginal-oil-fields\/","url_meta":{"origin":8347,"position":4},"title":"ADM Energy, OilBank Pre-qualifies in Bidding for Nigerian Marginal Oil Fields","author":"","date":"August 3, 2020","format":false,"excerpt":"ADM Energy has announced that it has successfully pre-qualified in the Nigerian Government's 2020 Marginal Field Bid Round. The Company is participating in the Bid Round as the exclusive technical partner of OilBank International Limited (OilBank), a Nigerian integrated oil and gas service management company. \u00a0\u00a0 The Nigerian Department of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8667,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pgs-data-covers-key-blocks-for-nigerias-2020-bid-round\/","url_meta":{"origin":8347,"position":5},"title":"PGS Data Covers Key Blocks for Nigeria\u2019s 2020 Bid Round","author":"","date":"July 24, 2020","format":false,"excerpt":"The Department of Petroleum Resources (DPR), on behalf of the Federal Government of Nigeria, recently launched its 2020 licensing round. A total of fifty-seven marginal fields are on offer, including a number in shallow-water terrains. The\u00a0PGS Nigeria MegaSurvey\u00a0complements offshore blocks of the 2020 Marginal Fields Bid Round, offering prospective block\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/nigeria-marginal-oil-fields-PGS.jpg?fit=860%2C608&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=8347"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8347\/revisions"}],"predecessor-version":[{"id":8354,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8347\/revisions\/8354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8348"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=8347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=8347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=8347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}