- Holds Commercial Bid Conference Today
The race for 50 oil and gas blocks under Nigeria’s 2025 Licensing Round enters a decisive phase on Tuesday as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) convenes the Commercial Bid Conference in Abuja.
Eniola Akinkuotu, Head of Media and Corporate Communications at the NUPRC, disclosed the details in a statement issued on Monday.
The commission said the invitation-only event, scheduled for July 21 at the Transcorp Hilton Hotel, Abuja, will bring together 143 prequalified companies that successfully scaled the technical bid stage of the licensing exercise.
According to the NUPRC, the companies emerged after a transparent and rigorous screening process and will compete for exploration rights across 50 oil and gas blocks located in key hydrocarbon basins nationwide.
The blocks on offer comprise 16 in the Niger Delta Onshore, 18 in the Niger Delta Shallow Water, one in the Niger Delta Deep Offshore, three in the Benin Basin Onshore, four in the Anambra Basin Onshore, four in the Chad Basin Onshore and four in the Benue Trough.
The commission said the winning bids would be determined through a weighted assessment of both technical and commercial parameters, including signature bonus, work programme commitments and performance security commitments.
The 2025 Licensing Round was launched on November 11, 2025, in line with the provisions of the Petroleum Industry Act, 2021, with the bid portal opening on December 1, 2025, for registration.
A pre-bid conference was subsequently held on January 14, 2026, at Eko Hotels and Suites, Lagos, to familiarise registered bidders and other stakeholders with the bidding guidelines.
Registration and submission for prequalification closed on February 27, 2026, while the prequalification exercise was concluded on March 16.
The NUPRC disclosed that 286 companies initially applied for prequalification, with 196 firms qualifying to participate in the technical and commercial bid stages. Of those, 143 companies submitted a total of 200 bids and are now set to compete at the commercial bid conference.
The outcome of the conference is expected to determine the successful bidders for the 50 oil and gas assets as Nigeria seeks to attract fresh investment into its upstream petroleum sector under the Petroleum Industry Act framework.
