31 Companies Secure 37 Oil Blocks in Nigeria’s 2025 Licensing Round

• Thirty-one firms emerged successful after a competitive commercial bidding exercise in Abuja.

• The 37 awarded assets span onshore, shallow water, deep offshore and frontier basins.

• NUPRC says winners must pay signature bonuses before receiving final ministerial approval.

Thirty-one indigenous and international energy companies have emerged successful bidders for 37 oil and gas blocks offered under Nigeria’s 2025 Licensing Round, following the conclusion of the commercial bid conference organised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The exercise, held on Tuesday at the Transcorp Event Centre in Abuja, drew 143 participating companies, which submitted nearly 200 commercial bids for 37 of the 50 oil and gas assets placed on offer by the commission.

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The awarded blocks are located across the Niger Delta onshore, shallow water and deep offshore corridors, as well as the Benin Basin, Anambra Basin, Chad Basin and the Benue Trough.

Thirteen of the advertised blocks, however, did not receive any bids.

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The NUPRC described the outcome as a milestone for Nigeria’s upstream petroleum industry, noting that frontier basins attracted significant investor interest for the first time under a competitive licensing process.

Among the successful companies are 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.

The commission explained that the successful firms would only receive final awards after paying the prescribed signature bonuses and obtaining the approval of the Minister of Petroleum Resources, as stipulated under the Petroleum Industry Act (PIA) 2021.

Speaking after the exercise, the Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, commended President Bola Tinubu for supporting the successful conduct of the licensing round.

She congratulated the winning companies and urged them to move quickly to fulfil all financial obligations and commence development of the assets.

Eyesan also warned that operators who fail to develop awarded fields risk losing them under the commission’s “drill or drop” policy, which is aimed at preventing asset speculation and encouraging increased oil and gas production.

Officials from the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders monitored the bid process to ensure transparency and compliance with the Petroleum Industry Act.