NUPRC Completes Pre-Qualification for 2025 Oil Licensing
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the completion of the pre-qualification stage for the 2025 licensing round on March 16, 2026. Eniola Akinkuotu, head of media strategy and communications at NUPRC, confirmed that successful applicants have been notified.
The licensing round, which aims to award 50 oil blocks, is part of a strategy to further develop Nigeria's petroleum basin and is conducted under the Petroleum Industry Act 2021. The blocks include 15 onshore, 19 shallow water, and 15 frontier assets, along with 1 deepwater block.
The commission anticipates attracting $10 billion in investment and adding 2 billion barrels to oil output over the next ten years, with a daily production volume of 400,000 barrels when fully operational. Bidders are required to submit bids ranging from $3 million to $7 million, and the technical and commercial bid stage is expected to conclude by July 2026.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
Read full article
Continue on Daily Trust
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
NUPRC Completes Pre-Qualification for 2025 Oil Licensing
NUPRC Implements Drill-or-Drop Rule for Oil Blocks
NUPRC Urges Refiners to Acquire Oil Blocks for Supply
NUPRC Hints at $50bn Investments in Nigeria's Oil Sector by 2026
NUPRC Ends Dormant Licenses, Launches 2025 Licensing Round
NUPRC Reports 37 Billion Barrels Oil Reserves for 2026
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
