By Michael Eboh

The Department of Petroleum Resources, DPR, weekend, revealed that Nigerians currently own 52 per cent of the 173 active oil blocs, while foreign oil companies own 48 per cent.

Speaking at the launch of the Nigeria Oil and Gas, NOG Intelligence, a weekly print and online oil and gas newsletter in Lagos, Mr. Osten Olorunshola, Director, DPR, further disclosed that the Federal Government is considering undertaking another bidding round for the country’s marginal oil fields, while it will revoke the licenses of some fields awarded in 2003, next year.

Olorunshola who stated that the bids will be conducted as soon as it gets the go-ahead from the Presidency also disclosed that the federal government does not allocate oil blocs and marginal fields to individuals and corporations based on region or where they come from, adding that it has no records of 83 per cent Northern ownership of oil blocs anywhere.

He said of the total of 388 oil blocs, Nigeria has awarded 173 blocs to individuals and corporations, with Nigerians owning 90 blocs while foreigners own 83 blocs, adding that 215 blocs are yet to be awarded.

Nigerians 52% account for 6% crude oil production

He however, lamented the fact that the 90 blocs awarded to indigenous players only account for six per cent of the country’s total crude oil production while the 83 blocs awarded to foreign oil companies account for 94 per cent of the country’s total crude oil production.

He blamed this on the lackadaisical attitude of the Nigerian players towards the development of the blocs, saying majority of them have not commenced serious production activities on the fields since the award.

“It appears that people just want to own blocs and put it on their complimentary cards. We are not happy with that. It is absurd that six per cent of oil production is coming out of 90 leases. Government decided to dig deeper as it was not so happy with the performance of the indigenous oil companies. That is the reason why government put in place the Marginal Fields policy,” he noted.