I am pleased to announce that our company, Jimcol Resources Nigeria Limited has been successfully pre-qualified by the Department of Petroleum Resources (DPR) in the on-going 2020 marginal oilfield bidding round.
In June 2020, DPR had put out 57 marginal fields for competitive bidding by qualified Nigerian companies.
This is a significant milestone in our long-term strategic business plan to transition to a fully integrated Energy company by 2025.
This success builds on our continuous efforts in the last 15 years to develop a company with a clear agenda to deliver value to our stakeholders and deepen the Nigerian Content policy of the Nigerian government in the upstream oil & gas segment.
We intend to approach the remaining stages of the bidding process with the diligence required to convey our robust and exceptional value proposition to the DPR in respect of the development of our potential fields of interest.
To ensure we optimize the field development plans for each field, Jimcol Resources Nigeria Limited will be cultivating local and international collaborations with other E & P companies with the technical and financial muscle to facilitate a field development that will maximize the total hydrocarbon output for each field.
We are also satisfied with the governance process in the current bid round and believe that this excellent delivery by the DPR will lead to a very successful outcome for the entire exercise to the benefit of the Nigerian Oil & Gas industry and the nation at large.
Jimcol Resources Nigeria Limited.