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31 firms win 37 oil, gas blocks in Nigeria’s 2025 Licensing Round – EnviroNews
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Thirty-one companies have emerged winners of 37 oil and gas blocks following a keenly contested bidding process at the 2025 Licensing Round held in Abuja.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the successful bidders at the commercial bid conference held on Tuesday, July 21, 2026.
A total of 143 companies had submitted 200 bids for 37 out of the 50 oil and gas blocks originally put on offer.
These blocks were drawn from diverse terrains.
The terrains include the 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 onsure (four).
Of the 50 blocks on offer, 37 received bids while no bids were submitted for the remaining 13.
The 37 blocks that attracted bids were drawn from all the terrains, including the frontier basins like the Benue Trough, Chad Basin, Anambra Basin and the Benin Basin.
This is the first time in Nigeria’s energy history that frontier basins would attract such level of investor interest.
The companies that emerged winners of the 2025 Licensing Round include SSonic Petroleum Limited (PPL 2A29), CFP Pipeline and Flowlines (2A30), Dutchford E&P Limited (2A32), Attabanson Global Company Limited (2A33 and PPL 901) and Rosem Energy Limited (2A38).
Other winners include Pivot-GIS Limited (2A39), Network E&P (2A40), Asharami (2A41), LexOil (2A42), BVOF (2A43), Gupsco Energy Limited (2A44 and 2A51), Saratoga (2A45), Volante (2A46), Concept-Reel Petroleum Services Limited (2A47 and 2A55) and Clinton Oil Field (2A48 and 2A62)
Others are Nuway Oaklane Limited (2A49), Ramec (2A50), Italia (2A53), Blueridge E&P (2A54), Up Energies Limited (2A56), AYM Shafa (2A57), Blackrock Holdings Limited (2A58), Funtay Integrated Business Limited (2A59) and Riparian Development and Production Limited (2A60).
There was also Nikstallis (2A61 and PPL 900), Stardeep Petroleum (PPL 2010), Dakoda & U Limited (PPL308 and PPL 800), Southborne Oil and Gas Limited (PPL 902), Lanaka Petroleum (PPL 903) Highban Resources Limited (PPL 700), Eyre Energy Limited (PPL 801).
In her remarks, the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, said the firms would be presented final awards after the appropriate signature bonus payment and the approval of the Minister of Petroleum Resources.
Eyesan said that it was in line with the Petroleum Industry Act, 2021.
She thanked President Bola Tinubu for supporting the commission to deliver a seamless licensing round.
While congratulating the winners, she urged them to pay their signature bonuses as quickly as possible and also develop their assets or risk losing them in line with the drill or drop provision enforced by the commission.
The commercial bid conference was closely monitored by representatives of the Federal Ministry of Petroleum Resources.
It was also monitored by the Federal Ministry of Finance, the Nigeria Extractive Industry and Transparency Initiative (NEITI) and several other stakeholders in line with the extant laws.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said on Monday that 143 prequalified companies submitted 200 technical and commercial bids for 37 oil and gas assets in the ongoing Nigeria 2025 Licensing Round.
Eyesan said the assets were projected to contribute at least 300,000 barrels per day of crude oil and condensate production within three years of development.
Eyesan said the exercise attracted about 300 companies at inception for 50 available assets, with 196 applicants successfully prequalified for the bidding stage.
“The licensing round has progressed through several distinct phases, including registration, prequalification, data access, bid preparation and submission.
“Subsequently, technical evaluation was conducted and today we are presenting both the technical and commercial bid submissions to identify the new awardees.
“To reinforce trust, the commencement of this licensing round attracted interest from around 300 companies across 50 available assets. After the prequalification process, 196 applicants were deemed eligible to advance to the bidding stage.
“By the submission deadline, 143 companies had submitted 200 technical and commercial bids covering 37 assets.
“New entrants are leveraging this opportunity to test their capabilities, while both local and international players are seeking to expand their presence and further consolidate their positions,” she said.
She said the commercial bid opening would determine the successful bidders after aggregating the commercial scores with the technical evaluation.
According to her, the winning bidder for each asset will be the company with the highest weighted aggregate score, based on signature bonus, work programme commitment and performance security.
She said the assets on offer had the potential to add about 500 million barrels to Nigeria’s crude oil reserves and support the country’s target of producing three million barrels per day by 2030.
She said successful bidders would still be required to meet post-award conditions, including payment of signature bonuses, first-year rent, provision of guarantees and execution of contractual documents before Petroleum Prospecting Licences (PPLs) would be granted.
The NUPRC boss warned that any winning bidder that failed to meet the conditions within 90 days of receiving an offer letter would forfeit the award, while the commission could invite reserve bidders.
She reaffirmed the commission’s commitment to transparency, competitiveness and periodic licensing rounds, adding that President Bola Tinubu had also approved the commencement of the 2026 licensing round.
Meanwhile, the Federal Government says 13 oil and gas blocks in the ongoing 2025 Licensing Round will be returned to the bid basket, while successful bidders must commence development promptly or forfeit the assets under its “drill or drop” policy.
Mrs. Eyesan disclosed this on Tuesday, July 21, 2026, in Abuja at the Commercial Bid Conference for the Nigeria 2025 Licensing Round.
Eyesan said the 2025 Licensing Round attracted nearly 300 expressions of interest, with 286 companies applying for prequalification.
According to her, 196 companies were prequalified, while 143 firms eventually submitted 200 technical and commercial bids covering 37 oil and gas assets.
“Thirteen blocks have been withdrawn from the current exercise and will be returned to the bid basket for future licensing rounds,” she said.
The commission chief executive said the commercial bid opening would determine the successful bidders, stressing that assets would be awarded to credible operators with the technical and financial capacity to develop them rather than those offering the highest bids.
She said successful bidders must satisfy all post-award conditions within 90 days, warning that failure to do so would invalidate the award.
Eyesan added that undeveloped assets would be withdrawn in line with the commission’s “drill or drop” policy.
She also disclosed that President Bola Tinubu had approved the commencement of the 2026 Licensing Round and encouraged unsuccessful bidders to participate in the next exercise.
According to her, the licensing round is part of the Federal Government’s efforts to expand investment opportunities and deepen Nigeria’s integration into the global energy market through a transparent and competitive process.
Some 50 oil and gas blocks were offered in the 2025 Licensing Round across different terrains.
The assets comprise 16 Niger Delta onshore blocks, 18 Niger Delta shallow water blocks, one Niger Delta deep offshore block, three Benin Basin onshore blocks, four Anambra Basin onshore blocks, four Chad Basin onshore blocks and four Benue Trough onshore blocks.
By the close of bid submission, 143 companies had submitted 200 technical and commercial bids for 37 of the offered assets.
Speaking, Dr Amba Egba, Deputy Director, Leases Administration, Exploration and Acreage Management at NUPRC, said the technical and commercial evaluation process had been fully automated to ensure transparency, fairness and efficiency.
Egba said bidders would be assessed on their proposed field development plans and other technical parameters.
He said the commercial evaluation allocated 20 points to the signature bonus, with bids ranging from $3 million to N7 million.
The 2025 Licensing Round was announced on Nov. 11, 2025, in line with the provisions of the Petroleum Industry Act (PIA), 2021.
The bid portal was inaugurated on Dec. 1, 2025, while a pre-bid conference was held on Jan. 14, 2026, at Eko Hotels and Suites, Lagos.
Registration and submission for prequalification closed on Feb. 27, 2026, while the prequalification exercise was concluded on March 16, 2026.
Out of the 286 companies that applied for prequalification, 196 were cleared to participate in the technical and commercial bid stage, with 143 firms eventually submitting 200 bids for the commercial bid conference.
By Emmanuella Anokam