The Federal Government through the Department of Petroleum Resources (DPR), has disclosed its intent to auction 57 oil fields under the June 2020 Marginal Fields bid round.

The agency has implored po­tential participants in the exer­cise to submit applications for the fields which are located on land, swamp and the shallow offshore.

According to DPR, the ex­ercise which will be conduct­ed electronically involves five stages such as Expression of Interest/Registration, Prequal­ification, Technical and Com­mercial bid submission and Bid evaluation.

The Marginal Fields bid round is expected to take a maximum of six months after the official announcement of kick-off while bidding forms will be provided by the Department of Petroleum Resources (DPR).

The application process which is expected to give local players the best opportunity to participate in Nigeria’s energy sector shall attract non-refund­able chargeable fees as follows: Application fee of N2 million per field, Bid Processing Fee of N3 million per field, Data prying fee of $15,000 per field, Data Leasing fee of $25,000 per field, Compe­tent Persons Report of $50,000 and $25,000 for Fields Specific Report.

The agency said all applica­tion fees and processing fees are expected to be paid into the Treasury Single Account (TSA) while Signature Bonuses are ex­pected to be paid into the Feder­ation Account.

Besides, fees for data leasing, data prying, Competent Persons Report (CPR) and Field Specific Report should be paid into the National Data Repository (NDR) account for repayment.