143 Firms Compete for 50 Oil Blocks in Nigeria

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open the commercial bidding phase for the 2025 oil and gas licensing round on July 21, 2026, with 143 companies competing for 50 oil blocks across Nigeria's major hydrocarbon basins. The bidding process, which began in November 2025, has attracted significant interest from companies seeking access to Nigeria's upstream petroleum assets.

The commercial bid conference will be held at the Transcorp Hilton Hotel in Abuja, and attendance is strictly by invitation. The 50 blocks available for bidding include 16 onshore blocks in the Niger Delta, 18 shallow water blocks, and 16 deep offshore blocks, among others.

Companies that successfully prequalified will be notified to attend the conference. The bidding process will assess key parameters, including signature bonuses and work program commitments, with a focus on attracting fresh investment to increase crude oil and gas production in Nigeria.