WIDESPREAD optimism that Nigeria's long-awaited oil law reform package will gain presidential assent before the end of the year has galvanised industry players desperate to see markets recover and investment return to the Niger Delta. Claims by the Department of Petroleum Resources that 600 local suitors are seeking to prequalify for a marginal fields licensing round indicate substantial behind-the-scenes interest from potential foreign partners. Several of these fields are far from negligible, with some nudging 50 million barrels. If brought on stream within a year of award - as the guidelines demand -industry confidence could be bolstered ahead of the conventional licensing round planned for next year.
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