Matrix Energy Exploration and Production Company Limited has promised to deploy its vast experience in the downstream sector of the petroleum industry to add value to its operations in the upstream industry.

Matrix Energy, one of the leading downstream oil and gas companies, with a network of petroleum products retail outlets across the country, was among the over 161 indigenous oil and gas companies awarded oil prospecting licenses on Tuesday in Abuja.

The licenses were issued at the end of the 2020 Marginal Oil Field Bid Round in which the successful bidders jostled for stakes in the 57 marginal oil fields on offer by the Federal Government.

The marginal oil fields relinquished by the existing multinational oil companies in the country were put on offer for bids by indigenous operators as part of the government’s deliberate policy to encourage more involvement and participation of Nigerians in the exploitation and development of the country’s oil and gas resources.

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