Raising finance to acquire a marginal field? Key issues to consider – FBNQuest

Raising finance to acquire a marginal field? Key issues to consider – FBNQuest

By Ifeoma Finnih On the 1st of June 2020, the Federal Government of Nigeria (“FGN”) via the Department of Petroleum Resources (“DPR”) formally announced the commencement of the long-awaited marginal field bid round. According to the guidelines published by the DPR, a marginal field is defined as a field that has been discovered and left unattended for a period of not less than 10 years from the date of first discovery or such field as the President may from time to time, identify as a marginal field. The first marginal…

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