The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed the 31 entities chosen to acquire 37 oil and gas blocks as part of the 2025 Licensing Round. This announcement follows a rigorous competitive phase that generated 200 separate bids from 143 different organizations. The results were confirmed during a conference at the Transcorp Event Centre in Abuja.
Out of the 50 total blocks made available across regions including the Niger Delta and various frontier basins like the Chad and Benue Trough, 37 received successful bids, while 13 remained unallocated. The commission highlighted this as a significant achievement, particularly noting the unprecedented investor interest in Nigeria’s frontier basins. Notable winners among the 31 firms include SSonic Petroleum, Asharami, and Funtay Integrated Business, with some entities like Attabanson Global and Gupsco Energy acquiring multiple assets.
Commission Chief Executive Oritsemeyiwa Eyesan noted that formal awards remain pending, subject to the successful payment of signature bonuses and final ministerial approval as mandated by the 2021 Petroleum Industry Act. Eyesan emphasized that winners are expected to begin development quickly, warning that the NUPRC will strictly apply the “drill or drop” policy to ensure all assets are actively managed. She also thanked President Bola Tinubu for his administration’s support in facilitating the process.
