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2025 licensing round: FG awards 37 oil blocks to 31 firms
The Nigerian Upstream Petroleum Regulatory Authourity(NUPRC), on Tuesday concluded its 2025 oil and gas licensing round with 31 companies emerging successful bidders for 37 oil and gas blocks.
The exercise, conducted by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) at the Transcorp Hilton, Abuja, attracted 143 companies, which submitted 200 commercial bids for 37 of the 50 blocks offered under the licensing round.
Addressing the successful bidders, the Commission Chief Executive of the NUPRC, Mrs. Oritsemeyiwa Eyesan, commended President Bola Tinubu for providing the policy support that enabled the Commission to conduct what she described as a transparent and seamless licensing round.
She congratulated the winning companies but reminded them that obtaining the licences was only the beginning of the process.
Eyesan urged the companies to pay their signature bonuses promptly and move swiftly to develop the assets, warning that the Commission would strictly enforce the “drill or drop” provisions of the Petroleum Industry Act against operators that fail to execute approved work programmes.
According to her, the era of holding oil assets for speculative purposes without development has come to an end, as the Commission remains committed to ensuring that licensed acreage translates into increased reserves, higher crude oil production and greater value for the Nigerian economy.
The blocks offered comprised 16 onshore Niger Delta assets, 18 shallow water blocks, one deep offshore block, three in the Benin Basin, four in the Anambra Basin, four in the Chad Basin and four in the Benue Trough.
Although 13 of the 50 blocks failed to attract bids.
Among the successful companies were SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited, Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.
Some firms secured multiple assets, reflecting aggressive bidding strategies and strong confidence in the commercial prospects of the acreage on offer.
However, the successful bidders are yet to receive final awards. Under the provisions of the Petroleum Industry Act 2021, the awards will only become effective after the payment of the prescribed signature bonuses and the approval of the Minister of Petroleum Resources.
To reinforce transparency and public confidence, the commercial bid conference was monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders in accordance with the provisions of the Petroleum Industry Act.