Thirty-one companies have emerged winners of 37 oil and gas blocks in Nigeria’s 2025 Licensing Round following the conclusion of the commercial bid conference held in Abuja on Tuesday.
The bidding process, held at the Transcorp Event Centre, attracted 143 companies, which submitted about 200 bids for 37 of the 50 oil and gas blocks offered by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
|
|
The blocks span multiple terrains, including the Niger Delta onshore, shallow water and deep offshore areas, as well as the Benin, Anambra and Chad basins and the Benue Trough.
While 37 blocks received bids, the remaining 13 attracted no offers.
|
|
|
|---|
The NUPRC described the outcome as significant, noting that it is the first time Nigeria’s frontier basins—including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin—have attracted such strong investor interest.
Among the successful bidders 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.
READ ALSO: PHOTO STORY: Firms begin commercial bidding for Nigeria’s deep offshore, shallow water oil assets
The commission said the companies will receive final awards only after paying the required signature bonuses and obtaining the approval of the Minister of Petroleum Resources, in line with the Petroleum Industry Act (PIA) 2021.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
Speaking after the exercise, the NUPRC Chief Executive, Oritsemeyiwa Eyesan, thanked President Bola Tinubu for supporting the successful conduct of the licensing round.
She congratulated the successful bidders and urged them to promptly pay their signature bonuses and develop the awarded assets, warning that undeveloped assets could be withdrawn under the commission’s “drill or drop” policy.
The commercial bid conference 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 transparency and compliance with applicable laws.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
![French President, Emmanuel Macron. [PHOTO CREDIT: Official Facebook page of Emmanuel Macron]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2022/03/104290272_2785474411685127_8410549002901324824_n-e1703785197754.jpg?fit=1786%2C1259&ssl=1)
