Oil and Gas Blocks - For Sale Signs Out

The Government through Minister of Energy and Mineral Resources Decision No. 2602 K/23/MEM/2006 has prepared 41 oil and gas blocks for sale to interested and able investors with profit percentage splits ranging from 85:15 through to 60:40 for the Government and the investor respectively.

The Decision includes 2 Attachments; the first is an extended version of the table reproduced below and the second is the geographical maps of each of the Blocks being offered. The Blocks offered with a greater profit split in favor of investors is indicative of the difficulty in exploiting the available resources in those respective Blocks. The tender process also includes compulsory bonuses to be paid to the Government by the wining tender ranging from USD 1 million to USD 5 million depending on the Block.