- 31 Firms Clinch 37 Oil, Gas Blocks
- Bidding Records Historic Interest in Frontier Basins
- Sets Deadline For Signature Bonuses Payment
Thirty-one oil and gas companies have emerged as winners of 37 petroleum assets in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)’s keenly contested 2025 Licensing Round, marking what the Commission described as a major milestone in attracting fresh investment into the country’s oil and gas sector.
The successful bidders emerged after a competitive commercial bid conference held at the Transcorp Event Centre in Abuja on Tuesday, where 143 companies submitted 200 bids for 37 of the 50 oil and gas blocks put up for licensing.
The blocks span Nigeria’s major hydrocarbon provinces, including the Niger Delta onshore and shallow offshore, as well as frontier basins such as the Benue Trough, Chad Basin, Anambra Basin and Benin Basin.
NUPRC said 13 blocks failed to attract bids, but described the strong interest in the frontier basins as unprecedented.
“This is the first time in Nigeria’s energy history that frontier basins would attract such level of investor interest,” the Commission stated.
Among the successful companies are SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited, Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.
The Commission, however, stressed that the winners have not yet secured final ownership of the assets, noting that the awards remain subject to the payment of the required signature bonuses and the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, 2021.
Speaking after the exercise, the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, congratulated the successful bidders and urged them to move swiftly to complete the financial requirements.
“Pay your signature bonuses as quickly as possible and develop your assets or risk losing them in line with the drill or drop provision enforced by the Commission,” Eyesan warned.
She also commended President Bola Tinubu for supporting the Commission in delivering what she described as a seamless and transparent licensing round.
The commercial bid process was monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI), and other stakeholders to ensure compliance with the Petroleum Industry Act and other applicable regulations.
