NUPRC Restricts Bidders in 2025 Oil Licensing Round to Two Blocks, Emphasizes Technical and Financial Capacity
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled stringent rules for the 2025 licensing round in the oil and gas sector. Bidders are restricted to a maximum of two blocks, focusing on technical expertise and financial strength.
The pre-bid webinar highlighted the importance of demonstrating technical competence, operational assets, and financial capacity to fund exploration activities. The commission aims to ensure transparent and merit-based selection processes, with successful bidders required to pay a sign-on bonus within 60 days.
The move is intended to attract committed investors and enhance competition while promoting long-term value creation in Nigeria's oil and gas industry.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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