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DPR to conduct bid rounds in two years to stabilise oil output
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DPR to conduct bid rounds in two years to stabilise oil output

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The Department of Petroleum Resources has been urged to undertake bid rounds for oil output in Nigeria every two years to keep production stable in the country.

A former Deputy Managing Director of Shell Petroleum Development Company (SPDC) Egbert Imomoh disclosed this at a lecture delivered in Abuja.

Imomoh says this initiative is important to help Nigeria maximise its oil resources and get more returns from it.

He added that a high frequency of bid rounds will enable the DPR attract new investors into the oil sector.

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