31 Firms Win Nigeria’s 2025 Oil Blocks As NUPRC Sets 90-Day Compliance Deadline
Nigeria's regulatory commission has awarded 37 oil and gas blocks to 31 companies following an eight-month bidding process. Winners have 90 days to meet regulatory conditions or face forfeiture of their licenses.
Why it matters
This licensing round is a critical step in Nigeria's strategy to boost crude oil production and expand its hydrocarbon reserves to support national economic growth.
Thirty-one firms secure 37 oil blocks as NUPRC gives winners 90 days to meet conditions or forfeit their awards.
Thirty-one companies on Tuesday, emerged winners of 37 oil and gas blocks offered by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the 2025 Licensing Round, a development expected to support Nigeria’s ambitious plans to increase crude oil production and significantly expand its hydrocarbon reserves.
The successful conclusion of the commercial bid conference, held in Abuja, marked the culmination of an eight month process that attracted about 300 expressions of interest at inception before narrowing to 143 qualified companies that submitted 200 technical and commercial bids for 37 of the 50 assets originally put on offer.
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