ABUJA, Nigeria — The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced 31 companies as preferred winners of 37 oil and gas blocks in the country’s 2025 Licensing Round, following a competitive bidding process aimed at boosting exploration and investment across both mature and frontier hydrocarbon basins.
The commercial bid conference, held at the Transcorp Hilton Abuja on July 21, 2026, attracted strong participation from domestic and international investors, with 143 companies submitting 200 bids for 37 of the 50 petroleum prospecting licences (PPLs) offered by the regulator.
The exercise forms part of the Federal Government’s strategy to increase crude oil and gas reserves, stimulate exploration activities and attract fresh capital into Nigeria’s upstream petroleum sector under the Petroleum Industry Act (PIA) 2021.
Frontier Basins Record Historic Investor Interest
The 50 blocks offered for bidding were spread across several hydrocarbon provinces, including:
- Niger Delta Onshore – 16 blocks
- Niger Delta Shallow Water – 18 blocks
- Niger Delta Deep Offshore – 1 block
- Benin Basin Onshore – 3 blocks
- Anambra Basin Onshore – 4 blocks
- Chad Basin Onshore – 4 blocks
- Benue Trough – 4 blocks
While 37 blocks attracted bids, 13 blocks received no offers.
According to NUPRC, the licensing round marked a significant milestone as frontier basins—including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin—received substantial investor interest for the first time in Nigeria’s oil and gas licensing history.
31 Companies Emerge Preferred Winners
The successful bidders include 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.
Some companies secured multiple assets, including Attabanson Global Company Limited, Gupsco Energy Limited, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nikstallis and Dakoda & U Limited, reflecting strong competition for selected acreage.
Awards Subject to Signature Bonus and Ministerial Approval
NUPRC clarified that the successful companies have been named preferred bidders and will only receive their final petroleum prospecting licences after meeting statutory requirements.
The regulator said each company must pay the applicable signature bonus and obtain approval from the Minister of Petroleum Resources, as stipulated under the Petroleum Industry Act, 2021.
NUPRC Urges Prompt Development of Awarded Assets
Speaking after the announcement, NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, commended President Bola Ahmed Tinubu for supporting the Commission in conducting what she described as a transparent and seamless licensing round.
She congratulated the successful bidders and urged them to complete payment of their signature bonuses without delay.
Eyesan also reminded the winners that they would be expected to develop the awarded assets within the timelines prescribed under the Petroleum Industry Act, warning that the Commission would strictly enforce the “drill or drop” provision, which allows regulators to revoke licences where operators fail to execute approved work programmes.
Transparent Bidding Process
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 compliance with Nigeria’s legal and regulatory framework.
The outcome of the 2025 Licensing Round is expected to support Nigeria’s efforts to increase exploration activity, attract new upstream investment, expand hydrocarbon reserves and strengthen crude oil production capacity, while reinforcing investor confidence in the country’s petroleum licensing regime under the Petroleum Industry Act.
