NUPRC Sets June 12, 2026 Deadline for Oil Bids

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a deadline of June 12, 2026, at 16:30 WAT for the submission of technical and commercial bids as part of the 2025 licensing round. This initiative is part of the Nigerian government's broader strategy to unlock dormant hydrocarbon assets and enhance exploration activities, ultimately improving the country's reserve base.

The commission has urged qualified bidders to comply with the strict timelines outlined in the licensing guidelines. The 2025 licensing round is expected to offer 50 oil and gas blocks, including 15 onshore blocks, 19 shallow water blocks, and 15 frontier deep-water blocks, with an anticipated investment portfolio of $10 billion.

The NUPRC aims to unlock around 2 billion barrels of oil over the next decade, potentially adding 400,000 barrels per day when fully developed. The prequalification stage is set to conclude in March 2026, with the licensing exercise expected to commence later in the year.