Nigeria's upstream petroleum industry has recorded another major development following the conclusion of the 2025 Licensing Round, with 31 companies emerging as successful bidders for 37 oil and gas blocks spread across producing and frontier basins.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which conducted the exercise at the Transcorp Event Center in Abuja on July 21, 2026, described the outcome as a reflection of sustained investor interest in the country's hydrocarbon potential. The licensing round drew participation from 143 companies, which collectively submitted 200 bids for 37 of the 50 oil and gas blocks offered.
The available acreage covered a wide geographical spread which included 16 blocks 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.
Although 13 of the 50 blocks did not receive bids, the commission noted that interest extended beyond Nigeria's traditional producing areas into frontier basins such as the Benue Trough, Chad Basin, Anambra Basin and Benin Basin. According to the NUPRC, this is the first time in the country's energy history that frontier basins have attracted this level of investor participation during a licensing round.
The successful bidders, listed alphabetically, are:
- Asharami — 2A41
- Attabanson Global Company Limited — 2A33 and PPL 901
- AYM Shafa — 2A57
- Blackrock Holdings Limited — 2A58
- Blueridge E&P — 2A54
- BVOF — 2A43
- CFP Pipeline and Flowlines — 2A30
- Clinton Oil Field — 2A48 and 2A62
- Concept-Reel Petroleum Services Limited — 2A47 and 2A55
- Dakoda & U Limited — PPL 308 and PPL 800
- Dutchford E&P Limited — 2A32
- Eyre Energy Limited — PPL 801
- Funtay Integrated Business Limited — 2A59
- Gupsco Energy Limited — 2A44 and 2A51
- Highban Resources Limited — PPL 700
- Italia — 2A53
- Lanaka Petroleum — PPL 903
- LexOil — 2A42
- Network E&P — 2A40
- Nikstallis — 2A61 and PPL 900
- Nuway Oaklane Limited — 2A49
- Pivot-GIS Limited — 2A39
- Ramec — 2A50
- Riparian Development and Production Limited — 2A60
- Rosem Energy Limited — 2A38
- Saratoga — 2A45
- Southborne Oil and Gas Limited — PPL 902
- SSonic Petroleum Limited — PPL 2A29
- Stardeep Petroleum — PPL 2010
- Up Energies Limited — 2A56
- Volante — 2A46
The commission explained that the announcement of successful bidders does not amount to a final allocation of the assets. Each company must fulfil all post-award obligations, including payment of the applicable signature bonus, before receiving a final award. The process also requires the approval of the Minister of Petroleum Resources in accordance with the Petroleum Industry Act (PIA) 2021.
NUPRC Chief Executive Officer Oritsemeyiwa Eyesan congratulated the successful companies and urged them to move swiftly in meeting these obligations. She warned that companies that fail to pay their signature bonuses and commence asset development risk losing the assets under the commission's "drill or drop" policy.
Eyesan had earlier stated that any successful bidder that does not satisfy the stipulated conditions within 90 days would forfeit the award.
She also acknowledged the support of the federal government in enabling the commission to deliver what it described as a seamless 2025 Licensing Round.
Beyond the successful bids, the exercise highlights Nigeria's continued efforts to attract investment into its upstream sector while expanding exploration beyond established producing regions. The strong response to opportunities in frontier basins points to growing confidence in the country's long-term energy prospects and reinforces Nigeria's position as one of Africa's leading destinations for petroleum investment.
No comments:
Post a Comment