Thirty-one companies have emerged as winners of 37 oil and gas blocks in Nigeria’s 2025 Licensing Round.
The development followed the conclusion of the commercial bid conference held in Abuja on Tuesday.
The bidding exercise, organised by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, at the Transcorp Event Centre, attracted 143 companies, which submitted about 200 bids for 37 of the 50 oil and gas blocks on offer.
The awarded blocks are located across the Niger Delta onshore, shallow water and deep offshore areas, as well as the Benin, Anambra and Chad basins and the Benue Trough. Thirteen of the 50 blocks offered received no bids.
The NUPRC said the outcome marked the first time Nigeria’s frontier basins, including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin, attracted significant investor interest during a licensing round.
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 stated that the successful bidders would receive final awards only after paying the required signature bonuses and obtaining the approval of the Minister of Petroleum Resources, in accordance with the Petroleum Industry Act (PIA) 2021.
Speaking after the exercise, NUPRC Chief Executive, Oritsemeyiwa Eyesan, congratulated the successful bidders and urged them to make prompt payment of their signature bonuses and commence development of the awarded assets.
She warned that any asset left undeveloped could be withdrawn under the commission’s “drill or drop” policy.
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Business Day