31 Companies Win Bids in Nigeria's 2025 Licensing Round

On the previous day, thirty-one companies emerged as winners of 37 oil and gas blocks offered by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) during the 2025 Licensing Round. This initiative is part of Nigeria's strategy to boost crude oil production and expand hydrocarbon reserves.

The commercial bid conference, held in Abuja, concluded an eight-month process that began with approximately 300 expressions of interest, which narrowed down to 143 qualified companies submitting 200 technical and commercial bids for the 37 assets. The remaining 13 blocks did not attract bids due to their location in frontier basins requiring further geological work.

The winning companies will receive their final Petroleum Prospecting Licences (PPLs) after paying signature bonuses and obtaining approval from the Minister of Petroleum Resources, as well as fulfilling all post-award conditions under the Petroleum Industry Act (PIA) 2021.