Thirty-one companies have emerged as successful bidders for 37 oil and gas blocks in Nigeria’s 2025 Licensing Round following the conclusion of the commercial bid conference held in Abuja.
The exercise, organised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) at the Transcorp Event Centre, attracted 143 companies, which submitted nearly 200 bids for 37 of the 50 oil and gas blocks on offer.
The awarded assets span the Niger Delta’s onshore, shallow water and deep offshore regions, as well as the Benin, Anambra and Chad basins, and the Benue Trough. Thirteen of the 50 blocks offered did not receive any bids.
According to the commission, the 2025 licensing round marked the first time Nigeria’s frontier basins including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin recorded significant investor participation.
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.
NUPRC stated that the successful bidders would receive their 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.
Speaking after the bidding process, NUPRC Chief Executive Oritsemeyiwa Eyesan congratulated the successful companies and urged them to make prompt payment of their signature bonuses and commence development of the awarded assets.
She also warned that any awarded asset left undeveloped could be withdrawn under the commission’s “drill or drop” policy.