Nigeria to Announce New Oil, Gas Exploration Licenses

 19th MAR 2007

Nigeria will announce a new round of exploration licenses for around 30 oil and gas blocks over the next two weeks, oil minister said.  Edmund Daukoru, speaking in Vienna ahead of an Organization of Petroleum Exporting Countries meeting Thursday, told reporters the licenses will include both offshore and onshore blocks, including some in the Niger Delta.

"By the end of this week or when I get back to Nigeria," we'll announce the number of blocks and the location, he said.  Daukoru said bidding for the license will be carried out electronically. Nigeria has previously announced plans to hold licensing rounds only to delay as a result of technical issues. International investors have been waiting for months for Nigeria to launch the round, in which countries like India, China and South Korea are expected to be enthusiastic participants.

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