The Group Managing Director of the Nigerian National Petroleum Corporation, MELE KYARI says the Federal Government will offer marginal oil fields for auction this year despite the crash in crude oil prices. 

The country has not conducted any licensing round since 2007, while a marginal fields round was last held in 2003.

KYARI said the government would not be able to conduct any major licensing round as the current market realities would dampen foreign investors’ appetite.

He spoke during a virtual dialogue session on government fiscal policy decisions in response to the current challenges organised by the Ministry of Finance and the UK Department for International Development Partnership to Engage, Reform and Learn.