Following a commercial bid conference in Abuja this past Tuesday, 31 companies have been named the winners of 37 oil and gas blocks during Nigeria’s 2025 Licensing Round. Organized by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) at the Transcorp Event Centre, the process drew 143 participants who submitted approximately 200 bids for the 50 blocks initially available.
These winning companies will gain control of assets spanning the Niger Delta’s onshore, shallow, and deep-water regions, as well as the Anambra, Chad, Benin, and Benue Trough basins. Notably, 13 blocks remained unbid. The NUPRC highlighted that this round saw unprecedented investor interest in the country’s frontier basins.
The successful firms 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, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited, and Eyre Energy Limited.
Final awards are contingent upon the payment of signature bonuses and approval from the Minister of Petroleum Resources, as mandated by the Petroleum Industry Act of 2021. NUPRC Executive Oritsemeyiwa Eyesan encouraged the winners to pay their bonuses quickly and start field development, reminding them that the commission’s “drill or drop” policy allows for the revocation of licenses if assets remain inactive.
