Forty-two bidders have emerged successful in the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) auction process, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced on Wednesday.
The Commission, while announcing the outcome of the bidding exercise, said issuance of letters of award to 42 companies/entities deemed successful in the process was ongoing.
NUPRC management, in a statement, said the 42 successful bidders were awarded 49 Flare Sites put forward during the 2022 NGFCP Auction process.
The Commission said that 38 of the companies/entities have been awarded 40 Flare Sites for standalone single flare site development, while four are awarded nine sites to be developed as clusters.
It, however, said ‘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 RFP.
According to the Commission, award letters are already being transmitted to the respective successful entities through the appropriate channels.