The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has announced 42 successful bidders in the Nigerian Gas Flare Commercialisation Programme, NGFCP’s auction process.
Gbenga Komolafe, the NUPRC Chief Executive disclosed the outcome of the bidding exercise in a statement made in Abuja on Wednesday.
He said the 42 successful companies/entities in the keenly contested bid for 49 flare sites were already being issued with letters of award.
The NUPRC boss said 38 of the companies/entities had been awarded 40 flare sites for stand-alone single flare site development, while four were awarded nine sites to be developed as clusters.
“Reserve bidders’ status has also been accorded some companies for the corresponding flare sites in case the preferred bidders fail to meet the terms and conditions stipulated in the Request for Proposal, RFP.
“Award letters are already being transmitted to the respective successful entities through the appropriate channels,”
“At this stage, the Preferred Bidders would individually proceed to execute the Suite of Commercial Agreements with relevant parties and effect payment of the prescribed award fees to enable the grant of Permit to Access Flare Gas by the Commission,” he said.