The deadline for the registration of interest to bid for the marginal oilfields in Nigeria has been extended by one week, as announced earlier today by the Department of Petroleum Resources (DPR).

The initial deadline for interested applicants to indicate interest for the bid was June 14. However, the DPR has now extended it to June 21.

According to Reuters, no reason was given for the extension.

The exercise, which is the first to be conducted in nearly twenty years, would be carried out electronically. The process entails expression of interest, pre-qualification, technical and commercial bid submission, and bid evaluation.

The marginal oilfields comprised of 57 fields located on land, swamp and shallow offshore terrains. The bids will enable the government to raise some much needed revenue to supplement its revenue shortfalls.