By Seun Ibiyemi
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced 31 companies as winners of 37 oil and gas blocks in the 2025 Licensing Round, following a competitive bidding process that attracted 200 bids from 143 companies.
The successful bidders emerged at the commercial bid conference held on Tuesday at the Transcorp Event Centre in Abuja, marking the end of the competitive phase of the licensing exercise.
According to the commission, the awarded blocks were selected from 50 oil and gas assets offered across the Niger Delta’s onshore, shallow water and deep offshore areas, as well as the frontier basins of the Benue Trough, Chad Basin, Anambra Basin and Benin Basin.
NUPRC disclosed that while 37 blocks attracted bids, 13 others received no offers. The commission described the outcome as a landmark achievement, noting that it was the first time Nigeria’s frontier basins had witnessed such a significant level of investor interest.
Among the companies that secured blocks are 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 and Nuway Oaklane Limited.
Others include 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.
Some firms secured multiple assets in the licensing exercise. Attabanson Global Company Limited won PPL 2A33 and PPL 901, while Gupsco Energy Limited secured PPL 2A44 and PPL 2A51.
Concept-Reel Petroleum Services Limited emerged successful for PPL 2A47 and PPL 2A55, while Clinton Oil Field won PPL 2A48 and PPL 2A62. Nikstallis also secured PPL 2A61 and PPL 900.
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Speaking at the event, the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, congratulated the successful bidders and urged them to promptly pay their signature bonuses and begin the development of the assets.
Eyesan also expressed appreciation to President Bola Tinubu for supporting the commission in conducting what she described as a seamless and transparent licensing round.
However, the commission clarified that the companies would only receive their final awards after paying the required signature bonuses and obtaining the approval of the Minister of Petroleum Resources, in line with the provisions of the Petroleum Industry Act (PIA), 2021.
She further warned that the commission would strictly enforce the “drill or drop” provisions of the PIA, stressing that licence holders who fail to develop their assets within the stipulated timeframe risk forfeiting them.
The 2025 licensing round is expected to boost investment in Nigeria’s upstream petroleum sector, deepen exploration activities in frontier basins and strengthen efforts to increase the country’s crude oil and gas reserves.
