Nigeria’s frontier hydrocarbon basins have, for the first time, attracted broad investor participation in a major oil and gas licensing exercise, as the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, concluded the 2025 Licensing Round with the award process for 37 exploration blocks.
The exercise saw 31 companies emerge as preferred bidders after a competitive commercial bid conference in Abuja, with successful bids received for 37 of the 50 oil and gas blocks offered across the country’s major hydrocarbon provinces.
The Commission disclosed that 143 companies submitted 200 bids during the licensing round, reflecting strong investor interest in Nigeria’s upstream petroleum sector.
The available acreages comprised 16 Niger Delta onshore blocks, 18 shallow water blocks, one deep offshore block, as well as frontier blocks located in the Benue Trough, Chad Basin, Anambra Basin and Benin Basin.
A major highlight of the exercise was the successful bidding for all the frontier basin acreages—an unprecedented outcome that underscores growing investor confidence in Nigeria’s efforts to unlock new hydrocarbon frontiers and diversify exploration activities beyond the traditional Niger Delta.
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 and several other indigenous energy firms.
The NUPRC clarified that the companies would only receive final awards after paying the required signature bonuses and obtaining approval from the Minister of Petroleum Resources, in line with the provisions of the Petroleum Industry Act, PIA, 2021.
Speaking at the close of the commercial bidding process, the Commission Chief Executive, Engr. Gbenga Komolafe, congratulated the successful bidders and urged them to complete the post-bid requirements promptly to facilitate early exploration and field development.
He also reminded investors that the Commission remains committed to enforcing its “drill or drop” policy, warning that licences left undeveloped within the stipulated timelines could be withdrawn to ensure Nigeria’s hydrocarbon resources are efficiently exploited.
Representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative, NEITI, and other stakeholders monitored the commercial bid conference to ensure transparency, accountability and compliance with the Petroleum Industry Act.
The successful completion of the licensing round is expected to stimulate fresh investment in the upstream sector, expand exploration activities across both mature and frontier basins, boost reserves growth and support the Federal Government’s drive to enhance crude oil production and maximise revenue from the nation’s petroleum resources.
