Nigeria has given the green light for a limited licensing round comprising 56 fields to reallocate neglected acreage to local suitors willing to develop marginal deposits left dormant by the majors, the first such exercise since 2007.

The exercise includes 22 fields wrested from concessions held by Shell Petroleum Development Company (SPDC), 12 fields left dormant by Chevron, 11 fields held by ExxonMobil, five fields held by Total and two fields under concession by Agip.

The remaining four represent acreage earlier revoked from indigenous independents.