Nigerian govt returns 13 oil blocks to licensing basket as 143 firms submit bids
Thirty-one companies won 37 blocks after 143 bidders submitted about 200 bids, while 13 blocks drew no offers and will return to the licensing basket.
- Following Tuesday's commercial bid conference in Abuja, 31 companies won 37 oil and gas blocks in Nigeria's 2025 Licensing Round, while 13 of the 50 blocks offered attracted no bids and will return to the government's licensing basket.
- The NUPRC commenced the licensing round in November, attracting around 300 companies initially; after prequalification processes, 286 submitted applications with 196 advancing to the commercial bidding stage.
- At Transcorp Event Centre, 143 companies submitted approximately 200 bids for 37 blocks, with assets carrying potential to add about 500 million barrels to Nigeria's reserves and unlock 300,000 barrels of daily production within three years.
- NUPRC Chief Executive Oritsemeyiwa Eyesan urged successful bidders to promptly pay signature bonuses within 90 days and warned that undeveloped assets could be withdrawn under the commission's 'drill or drop' policy.
- President Bola Tinubu approved the 2026 licensing round as frontier basins including Benue Trough and Chad Basin attracted investor interest for the first time, advancing Nigeria's ambition to reach three million barrels daily production by 2030.
22 Articles
22 Articles
Nigerian govt returns 13 oil blocks to licensing basket as 143 firms submit bids
The Federal Government has announced that 13 of the 50 oil and gas blocks offered under the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids from investors. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, disclosed this on Tuesday during an event in Abuja. According to […] Nigerian govt returns 13 oil blocks to licensing basket as 143 firms submit bids
FG targets additional 300,000bpd oil production with 2026 bid round
—To grow reserve by 500m barrels By Obas Esiedesa, Abuja The Federal Government has said the ongoing 2025 Licensing Round is expected to deliver an additional 300,000 barrels per day of crude oil and condensate production over the next three years, as it prepares to launch another bid round in 2026 to accelerate investment in […] The post FG targets additional 300,000bpd oil production with 2026 bid round appeared first on Vanguard News.
JUST IN: Nigeria returns 13 oil blocks after 196 firms qualify for commercial bid
NUPRC says 13 oil blocks were returned to the government’s licensing basket after they failed to attract bids The post JUST IN: Nigeria returns 13 oil blocks after 196 firms qualify for commercial bid appeared first on Premium Times Nigeria.
Investors turn back on 13 oil blocks but Nigeria advances 196 bidders on 37
Nigeria’s 13 oil blocks out of a total 50 put on offer failed to attract investor bidding interests during the 2025 commercial bidding round, and have been returned to the government’s licensing pool, according to data from NUPRC – Nigeria Upstream Petroleum Resources Commission. However, the federal government has advanced 196 bidders, in what industry […] The post Investors turn back on 13 oil blocks but Nigeria advances 196 bidders on 37 appe…
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