ABUJA — Thirty-one companies have secured 37 oil and gas blocks in Nigeria’s 2025 Licensing Round, marking a major milestone in efforts to boost upstream investment and exploration.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the outcome after a competitive process that saw 143 companies submit 200 bids for 37 of the 50 blocks offered. The development was disclosed by the Commission’s Head of Media and Corporate Communications, Eniola Akinkuotu.
The commercial bid conference was closely monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance and the Nigeria Extractive Industries Transparency Initiative (NEITI), in line with transparency requirements.
The awarded blocks span multiple terrains, including the Niger Delta onshore and offshore, as well as frontier basins such as the Chad Basin, Benue Trough, Anambra Basin and Benin Basin.
“This is the first time in Nigeria’s energy history that frontier basins would attract such level of investor interest,” officials said.
Out of the 50 blocks on offer, 37 attracted bids while 13 received none, reflecting varying investor appetite across regions.
The successful bidders include SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited and Network E&P.
Others are Asharami, LexOil, BVOF, Gupsco Energy Limited, Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field and Nuway Oaklane Limited.
Additional winners are Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis and Stardeep Petroleum.
Also listed are Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, congratulated the winners and urged them to promptly fulfil post-award conditions.
She emphasised that companies must pay their signature bonuses and develop the assets in line with the “drill or drop” provisions under the Petroleum Industry Act (PIA) 2021.
Eyesan also commended President Bola Tinubu for supporting the Commission in delivering a seamless licensing round.
The NUPRC added that final awards remain subject to payment of signature bonuses and approval by the Minister of Petroleum Resources.
The exercise is expected to drive fresh investment into Nigeria’s oil and gas sector and expand exploration activities, particularly in previously underexplored frontier basins.
