31 Companies Emerge Winners in Nigeria’s 2025 Licensing Round as NUPRC Deepens Upstream Investment Drive
According to an official statement issued by the Commission, 31 companies emerged winners of 37 oil and gas blocks after a keenly contested commercial bid conference held at the Transcorp Event Centre, Abuja, on July 21, 2026.
The Commission disclosed that 143 companies submitted a total of 200 bids for 37 of the 50 oil and gas blocks originally offered under the licensing programme, underscoring strong investor appetite for Nigerian upstream assets despite prevailing global energy market uncertainties.
The blocks offered span multiple geological terrains, including 16 Niger Delta onshore blocks, 18 Niger Delta shallow water blocks, one deep offshore block, three Benin Basin onshore blocks, four Anambra Basin onshore blocks, four Chad Basin onshore blocks and four Benue Trough blocks.
Of the 50 blocks offered, 37 attracted bids while 13 received no submissions.
Notably, the Commission described the outcome as a landmark in Nigeria’s petroleum history, saying it is the first time frontier basins—including the Benue Trough, Chad Basin, Anambra Basin and Benin Basin—have attracted this level of investor interest.
Among the successful bidders 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 Energy, 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.
However, NUPRC clarified that the companies will only receive their final petroleum licences after payment of the applicable signature bonuses and approval by the Minister of Petroleum Resources in accordance with the provisions of the Petroleum Industry Act (PIA), 2021.
Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, congratulated the successful bidders and urged them to complete the required payments promptly while ensuring timely development of the awarded assets.
She warned that operators who fail to develop their acreage risk losing the licences under the Commission’s enforcement of the “drill or drop” provisions introduced under the Petroleum Industry Act.
Eyesan also acknowledged President Bola Ahmed Tinubu for supporting the Commission in delivering what she described as a seamless licensing exercise.
Beyond the awards themselves, the Commission is positioning the licensing programme as a recurring feature of Nigeria’s upstream investment framework rather than an occasional exercise.
Reflecting on the broader policy direction, Eyesan stated:
“We regard the allocation, development, and production of Nigeria’s assets as a critical responsibility. Fulfilling this duty requires a licensing programme that is consistent, credible, and subject to ongoing improvement.
“The Nigeria 2025 Licensing Round represented a significant milestone in fulfilling this commitment and initiated the next phase. I announced at the Commercial Bid Conference that His Excellency President Bola Ahmed Tinubu, GCFR, has approved the commencement of the Nigeria 2026 Licensing Round.
“The industry can be assured that opportunities in Nigeria’s upstream sector will continue to be provided through a transparent, predictable, and competitive process. Predictability is essential, as investment decisions span multiple years. Investors must be able to plan with confidence, knowing that Nigeria’s licensing programme is becoming a permanent aspect of the investment landscape.
“We are committed to continuous improvement, ensuring that each licensing round surpasses the previous in efficiency, transparency, and responsiveness. This is the benchmark we have established and by which we seek to be evaluated.”
The announcement effectively signals the Commission’s intention to institutionalise annual licensing rounds, a move expected to improve investor confidence by providing greater certainty over access to acreage and long-term investment planning.
Industry analysts believe the regularisation of licensing exercises could strengthen Nigeria’s efforts to increase hydrocarbon reserves, boost production, attract fresh exploration capital and accelerate the development of both mature and frontier basins. The strong participation recorded in the 2025 exercise—particularly across frontier acreage—also suggests growing confidence in Nigeria’s regulatory reforms under the Petroleum Industry Act.
The commercial bid conference was monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders, reinforcing the Commission’s commitment to transparency and regulatory accountability throughout the licensing process.
For Nigeria, the successful conclusion of the commercial bidding stage represents more than an acreage allocation exercise. It reinforces the country’s ambition to sustain upstream investment, diversify exploration beyond traditional producing areas and create a predictable licensing framework capable of supporting long-term energy security and economic growth.
