Nigeria’s petroleum regulator has revoked six oil block licenses due to “legacy debts,” it said in a public notice on June 6.
The notice, carried in some Nigerian newspapers, said the move by the Department of Petroleum Resources was “in furtherance of the presidential directive.”
The action comes as Nigeria takes a more aggressive approach to collecting taxes and royalties that the country says it is owed. Oil industry sources said Nigeria has also been increasingly vocal about rescinding licenses that are not being actively developed.
The notice said oil mining lease (OML) 98 was revoked from Pan Ocean Oil Corp., OML 120 and 121 from Allied Energy Resources Nigeria Ltd., OML 108 from Express Petroleum & Gas Co. Ltd. and OML 110 from Cavendish Petroleum Nigeria Ltd.
The notice also said oil prospecting license (OPL) 206 was revoked from Summit Oil International.
Details of the size or value of the blocks were not immediately available.
A spokesman for the president declined to comment. A petroleum ministry spokeswoman did not immediately respond to a request for comment.
Issues such as compensation for changing to onshore LNG project, development costs, internal rate of return and fiscal incentives remain concerns for the $20 billion project.
Approval depends on the publication of a Ministry of Mines and Energy decree that does not violate the rights and conditions from the contract Petrobras has already negotiated, the company said in a statement.
The new legislation allows for the creation of institutions to oversee the sector and for revenue sharing between the central government and federal states, among other objectives, the ministry of petroleum and mineral resources said in a statement.