Oil blocs auction

Published April 3, 2007

ABUJA, April 2: Nigeria, the biggest oil producer in Africa and sixth in the world, will on Tuesday announce the date for the 2007 round of bids for the oil blocs, officials said on Monday.

Energy Minister Edmund Daukoru on Tuesday “will announce the date and detailed procedure for the 2007 bid round for oil blocs,” spokesman for the state- run oil firm Nigerian National Petroleum Corporation, Levi Ajuonuma, told AFP.

The announcement will likely indicate the number of blocs to be put on auction and their locations, officials said.

Bidding for the sale of Nigeria’s offshore oil blocs was suspended several times last year.

The Nigerian government last December suspended until 2007 the sale of around 60 crude oil blocs, initially anticipated for the last quarter of 2006, officials from the DPR had said last January.—AFP

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