143 firms jostle for 50 oil blocks as 2025 licensing round reaches advanced stage

No less than 143 companies are expected to take part in the commercial bid conference for the 2025 licensing round, as the Nigerian government offers up 50 oil and gas blocks to investors.

 

The blocks being offered to investors are across diverse terrains, including the Niger Delta Onshore (16), Niger Delta Shallow Water (18), Niger Delta Deep Offshore (1), Benin Basin Onshore (3), Anambra Basin Onshore (4), Chad Basin Onshore (4) and Benue Trough (4).

 

Announcing the commercial bid conference which is slated to hold in Abuja on Tuesday, the Nigerian Upstream Petroleum Regulatory Commission explained that while a total of 286 companies made submissions for prequalification, 196 were prequalified to participate in the technical and commercial bid phase. It added that consequently, 143 companies submitted 200 bids.

 

 

 

“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has invited qualified companies to the highly anticipated commercial Bid Conference slated for July 21, 2026. These companies which scaled through the transparent and rigorous process have been notified and are expected to physically attend the Commercial Bid Conference,” It said.

 

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The Commission stated that in line with the guidelines, the elements of bid parameters include: the signature bonus, the work programme commitment and commitment to performance security culminating in a weighted technical and commercial score which will determine a winning bid.

 

 

The 2025 Licensing Round was first announced on November 11, 2025 and advertised widely in line with the Petroleum Industry Act, 2021.

 

 

“The bid portal was launched in December 2025 for Registration and a Pre-Bid Conference followed on January 14, 2026 at Eko Hotels and Suites, Lagos.

The Pre-Bid Conference served as an opportunity to educate registered bidders and other interested members of the public about the guidelines of the exercise.

 

 

“The registration and submission for prequalification evaluation closed on February 27, 2026 while the prequalification stage was completed on March 16, 2026

A total of 286 companies made submissions for prequalification out of which 196 were prequalified to participate in the technical and commercial bid phase. Consequently, 143 companies submitted 200 bids.

 

 

“These 143 companies are expected to take part in the commercial bid conference on July 21, 2026,” the commission stated.

 

The government expects to attract about $10 billion in investments through the licensing round. It is also expected to add up to 2 billion barrels of oil output over the next 10 years with an estimated 400,000 barrels/Day of production volumes when the blocks are fully operational.

 

 

Oritsemeyiwa Eyesan, Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), recently explained that the 2025 Licensing Round is not merely a bidding exercise but a clear signal of Nigeria’s deliberate effort to reposition its upstream sector for serious, long-term investment.

 

 

The CCE noted that while investment capital is increasingly selective and disciplined, Nigeria’s priority is to attract capital, grow reserves, improve production in a responsible and sustainable manner.

 

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She said, “To therefore achieve this objective, a structured, transparent licensing round is essential. Nigeria is ready to be the beautiful bride to capital and playroom for advanced technological deployment for

hydrocarbon recovery.

 

“The Nigerian Upstream Petroleum Regulatory Commission is mandated by

law to conduct licensing rounds in a periodic, transparent, open, and fully

competitive manner. In furtherance of this, the 2025 Licensing Round, the

entire process will be guided strictly by published rules. Our guidelines,

model contracts, bid parameters, and evaluation criteria will be clearly

defined, publicly available, and fully enforceable.”

 

She emphasised that the process follows five steps: registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference, adding that only candidates with strong technical and financial credentials, professionalism, and credible plans move forward.