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.