NUPRC Ends Dormant Licenses, Launches 2025 Licensing Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), under the leadership of Chief Executive Mr. Oritsemeyiwa Eyesan, declared an end to the era of dormant licenses, urging companies to either commence operations or relinquish their licenses.

This announcement was made during a meeting with Mr. Fodai Mansarai, the Director General of the Sierra Leone Commission, at the NUPRC headquarters in Abuja.

The commission highlighted that the 2025 licensing round will offer 50 oil blocks, which is expected to enhance Nigeria's petroleum reserves. Eyesan noted that the licensing round guidelines stipulate that no company can bid for more than two blocks, either individually or as part of a consortium.

The pre-qualification submissions for the 2025 licensing round have shown a strong appetite for participation. To ensure transparency, the NUPRC will implement additional layers of validation and auditing, with results to be made public, thereby boosting investor confidence.