Nigeria’s upstream petroleum regulator has announced that 31 companies have been selected to receive 37 oil and gas blocks under the country’s 2025 Licensing Round, following a competitive bidding exercise.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said a total of 143 companies submitted 200 bids for the available assets, with the successful bidders emerging after the process concluded in Abuja on July 21.
The awarded blocks are located across key petroleum regions, including the Niger Delta onshore, Niger Delta shallow waters, deep offshore areas, and frontier basins such as the Benin, Anambra, Chad and Benue basins.
According to the Commission, 16 of the awarded blocks are in the Niger Delta onshore region, 18 are in shallow waters, one is in deep offshore territory, while the remaining assets are situated within frontier exploration areas.
NUPRC described the outcome as a significant milestone for Nigeria’s upstream sector, noting that the strong participation in frontier basins reflected growing investor interest in previously underexplored areas.
Some of the companies selected in the round include SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, Gupsco Energy Limited, Concept-Reel Petroleum Services Limited and Clinton Oil Field.
Other successful bidders include Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.
The regulator clarified that the winning companies will only receive final approval after fulfilling financial obligations, including payment of required signature bonuses, and securing approval from the Minister responsible for petroleum resources in accordance with the Petroleum Industry Act (PIA) 2021.
NUPRC Chief Executive Oritsemeyiwa Eyesan urged successful bidders to complete the necessary processes quickly and move into asset development, warning that companies that fail to meet the required conditions within 90 days risk losing their awards under the regulator’s “drill or drop” policy.
The licensing round forms part of Nigeria’s broader strategy to attract fresh investment into the oil and gas sector, increase exploration activity and unlock hydrocarbon potential in both established and frontier basins.