Fourteen companies bid for OML 119 financing

The Nigerian National Petroleum Corporation has publicly opened bids from 14 companies for the financing and redevelopment of Oil Mining Lease 119.

The OML 119 is operated by the upstream subsidiary of the corporation, the Nigerian Petroleum Development Company Limited.

Speaking at the public opening of bids for the Funding and Technical Services Entity held on Friday in Abuja, the Group Managing Director, NNPC, Mele Kyari, said the OML 119 was one of the corporation’s critical projects.

He said the oil field aligned wholly with the Federal Government’s aspirations of boosting crude oil and gas production, growing reserves, and monetising the nation’s enormous gas resources.
Kyari, who was represented by the Chief Operating Officer, Corporate Services, Faruk Sa’id, stated that the selection process for the potential FTSE was transparent and in strict compliance with extant laws and overriding national interest.

He said it was also in tandem with the Economic Recovery and Growth Plan of the Federal Government.

In his remarks, the Group General Manager, Supply Chain Management, Abdulhamid Aliyu, assured the companies that the selection process would remain transparent and fair.
The OML 119 is a twin offshore block made up of Okono and Okpoho fields located approximately 50 kilometres offshore south-eastern Niger Delta.

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