Thirty-one companies have emerged as successful bidders for 37 oil and gas blocks following a fiercely contested commercial bid conference for the 2025 licensing round, held on Tuesday in Abuja.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the winners at the event, which attracted 200 bids from 143 companies for 37 of the 50 blocks originally placed on offer. The blocks span diverse terrains, including Niger Delta Onshore (16), Niger Delta Shallow Water (18), Niger Delta Deep Offshore (one), Benin Basin Onshore (three), Anambra Basin Onshore (four), Chad Basin Onshore (four), and Benue Trough Onshore (four). No bids were submitted for the remaining 13 blocks.
In a landmark development, the frontier basins—the Benue Trough, Chad Basin, Anambra Basin, and Benin Basin—drew significant investor interest for the first time in Nigeria’s energy history.
Successful Bidders and Next Steps
The winning firms include SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited (which secured two blocks), Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited (two blocks), Saratoga, Volante, Concept-Reel Petroleum Services Limited (two blocks), Clinton Oil Field (two blocks), 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 (two blocks), Stardeep Petroleum, Dakoda & U Limited (two blocks), Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited, and Eyre Energy Limited.
NUPRC Commission Chief Executive Oritsemeyiwa Eyesan announced that final awards will be presented upon payment of the applicable signature bonuses and approval by the Minister of Petroleum Resources, in accordance with the Petroleum Industry Act 2021.
She thanked President Bola Tinubu for supporting the commission in delivering a seamless licensing round and congratulated the winners, urging them to settle their signature bonuses promptly and develop their assets. Failure to do so, she warned, would trigger the commission’s “drill or drop” provisions, risking forfeiture of the blocks.
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, in compliance with extant laws.