In this publication authored by Nosa Osazuwa and Abdulganiyu Mustapha, we consider the regulatory framework for the administration of marginal fields following the enactment of the Petroleum Industry Act, 2021 (PIA). Of particular relevance is the import of the new acreage management system, the transitional framework for producing marginal fields, non-producing marginal fields declared as such prior to 1 January 2021, and marginal fields which had not been ceded to the government by the OML holders as at the effective date of the PIA. Lastly, we consider whether Farmout Agreements are still relevant given the provisions of the PIA and how this impacts the next steps to be taken by the Nigerian Upstream Regulatory Commission and the awardees of the 2020 Marginal Field Bid Round.

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Managing Partner, Gbite Adeniji shares some insights on pertinent issues arising from the Petroleum Industry Act, 2021 and its implementation.

We are pleased to inform you that our ‘Gbite Adeniji and Jumoke Fajemirokun have authored the Nigeria chapter of Energy Regulation and Markets Review (10th Edition).

The chapter summarizes the key features of the energy regulatory regime in Nigeria. It focuses on the electricity, natural gas and renewable energy sectors and covers, amongst many things, key regulatory institutions, major licensing requirements, market structure, tariff and price regulation, access restrictions and recent developments.

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We are pleased to inform you that our ‘Gbite Adeniji, Olajumoke Arowolo and Pacer Guobadia have authored the Nigeria chapter of Lexology’s Getting the Deal Through (GTDT): Oil Regulation 2021.

GTDT: Oil Regulation 2021 is a quick-reference guide on important issues related to the regulation and business of oil exploration and production worldwide.

Please note that the chapter will be updated in tandem with changes in the legislative framework governing Nigeria’s petroleum industry; for instance, in the event that the much-awaited Petroleum Industry Bill is signed into law. Follow our social media pages to stay updated.

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We are pleased to inform you that our ‘Gbite Adeniji and Jumoke Fajemirokun have authored the Nigeria chapter of Lexology’s Getting the Deal Through (GTDT): Mining 2021.

GTDT Mining: 2021 is a quick reference guide on the regulation of the mining industry across 22 countries. It covers ownership and acquisition of mining rights and title to minerals; restrictions on foreign parties; state participation, expropriation and compensation mechanisms; duties, royalties and taxes, including stabilisation mechanisms; business structures; financing sources and security regime; restrictions on movement of goods, services, people and capital in connection with mining activities; environmental, closure and remediation, health and safety, labour, social and community, and international law issues; anti-bribery and corrupt practices; and recent trends.

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