The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that 31 companies have emerged successful bidders for 37 oil and gas blocks in the 2025 Petroleum Licensing Round, marking a significant milestone in the country’s efforts to attract fresh investment into the upstream sector.
The commission disclosed that the winners emerged after a competitive commercial bidding process held at the Transcorp Event Centre in Abuja on Tuesday.
According to the NUPRC, 143 companies submitted a total of 200 bids for the 37 oil and gas blocks that advanced to the commercial bidding stage out of the 50 blocks originally offered.
The regulator said the exercise attracted a broad mix of participants, including indigenous firms, international investors and new entrants, describing the outcome as evidence of growing investor confidence in Nigeria’s petroleum industry.
NUPRC Chief Executive Gbenga Komolafe noted that the successful bidders must meet all post-award requirements before the licences become effective.
“Today’s announcement does not, by itself, constitute the final grant of Petroleum Prospecting Licences (PPLs),” the commission stated.
It added that each successful bidder must, within 90 days, fulfil all post-bid obligations, including the payment of signature bonuses, first-year rents, provision of required guarantees and execution of relevant contractual agreements, or risk forfeiting the award.
The commission also revealed that the 13 oil blocks that failed to attract successful bids will be returned to the licensing pool for future exercises. It said the Federal Government remains committed to ensuring that awarded assets are developed promptly to increase crude oil production, boost reserves and enhance government revenue.
The 2025 Licensing Round forms part of Nigeria’s broader strategy to unlock upstream investment, improve energy security and strengthen the country’s position as a leading oil and gas producer in Africa.
