31 Companies Secure 37 Oil and Gas Blocks in Nigeria

Thirty-one companies successfully secured bids for 37 oil and gas blocks in Nigeria’s 2025 Licensing Round, as announced by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) following a commercial bid conference in Abuja at the Transcorp Event Centre. The event attracted 143 companies that submitted nearly 200 bids for 37 of the 50 blocks offered by the Federal Government.

The awarded blocks cover various terrains, including the Niger Delta onshore, shallow water, deep offshore, and regions such as the Benin Basin, Anambra Basin, Chad Basin, and Benue Trough. Notably, 13 blocks did not receive any bids and will return to the licensing pool.

This licensing round marked a significant increase in investor participation in Nigeria's frontier basins. NUPRC Chief Executive Oritsemeyiwa Eyesan congratulated the successful bidders, emphasizing the need to fulfill financial obligations and commence development.

The final awards are contingent upon payment of signature bonuses and approval from the Minister of Petroleum Resources, as per the Petroleum Industry Act (PIA) 2021.