Nigerian upstream regulator allocates 37 petroleum concessions to 31 companies during this year's bidding process

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the winners of 37 oil and gas blocks in the 2025 Licensing Round, with 31 companies emerging victorious from a competitive bidding process that drew 200 bids from 143 companies.

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The winning companies were announced at the commercial bid conference held on Tuesday at the Transcorp Event Centre, Abuja, marking the culmination of the competitive phase of the licensing exercise, which saw 37 blocks awarded out of the 50 oil and gas blocks offered.

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The awarded blocks span across the Niger Delta onshore, shallow water and deep offshore areas, as well as the frontier basins of the Benue Trough, Chad Basin, Anambra Basin and Benin Basin, with 37 blocks attracting bids and 13 receiving no offers.

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The NUPRC has described the outcome as a milestone, noting that it is the first time Nigeria’s frontier basins have attracted such a high level of investor interest, with the successful companies including SSonic Petroleum Limited, CFP Pipeline and Flowlines, and Dutchford E&P Limited, among others.

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Other winning companies include Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited, and Saratoga, with some companies securing more than one block.

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Notable multiple-block winners include Attabanson Global Company Limited, which won PPL 2A33 and PPL 901, Gupsco Energy Limited, which secured PPL 2A44 and 2A51, and Concept-Reel Petroleum Services Limited, which won PPL 2A47 and 2A55.

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Clinton Oil Field also emerged successful, securing PPL 2A48 and 2A62, while Nikstallis won PPL 2A61 and PPL 900, with the commission clarifying that the companies will only receive their final awards after paying the required signature bonuses and obtaining the approval of the Minister of Petroleum Resources.

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The final awards are contingent upon the companies paying the required signature bonuses and obtaining the Minister's approval, in accordance with the Petroleum Industry Act, 2021, with the commission warning that it will strictly enforce the “drill or drop” provisions of the Act.

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Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, congratulated the successful bidders and urged them to promptly pay their signature bonuses and commence development of their assets, warning that licence holders that fail to develop their assets within the stipulated timeframe risk losing them.

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Eyesan also expressed appreciation to President Bola Tinubu for supporting the commission in delivering a seamless licensing round, with the event marking a significant milestone in the country's oil and gas sector.