ABUJA — A total of 143 companies are set to compete for 50 oil and gas blocks as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) moves to the decisive stage of its 2025 Licensing Round.
The companies, which submitted 200 bids, will participate in the Commercial Bid Conference scheduled for July 21, 2026, in Abuja, marking a critical phase in Nigeria’s upstream oil and gas investment drive.
According to a statement by NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, the firms emerged from a pool of 286 applicants, out of which 196 were prequalified after a rigorous screening process.
The blocks on offer cut across major basins, including the Niger Delta, Benin, Anambra, Chad Basin and Benue Trough, highlighting the breadth of opportunities in Nigeria’s energy sector.
NUPRC said the competitive bidding process will be determined by key parameters such as signature bonuses, work programme commitments and performance guarantees, ensuring that only technically and financially capable investors emerge successful.
“The process reflects our commitment to transparency, competitiveness and value maximisation under the Petroleum Industry Act,” the Commission stated.
The 2025 Licensing Round, first announced in November 2025, is part of ongoing reforms aimed at attracting fresh investment, boosting production and enhancing efficiency in Nigeria’s upstream sector.
Industry observers say the strong participation underscores renewed investor confidence in Nigeria’s oil and gas industry, despite global energy transition pressures.
