The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that 31 companies have emerged successful bidders for 37 oil and gas blocks in the country’s 2025 licensing round.
The commission disclosed this in a statement issued on Tuesday following the conclusion of the licensing exercise held in Abuja.
According to the NUPRC, the successful companies emerged after a competitive bidding process conducted as part of the Federal Government’s ongoing efforts to attract fresh investment into Nigeria’s upstream petroleum sector, boost exploration activities and increase hydrocarbon production.
The licensing round forms part of the implementation of the Petroleum Industry Act (PIA), which seeks to enhance transparency, competitiveness and efficiency in the management of the nation’s oil and gas resources.
The commission said further details, including the identities of the successful bidders and the locations of the awarded blocks, would be provided in accordance with the established regulatory process.
The latest licensing exercise is expected to stimulate new investments, create employment opportunities and strengthen Nigeria’s position as one of Africa’s leading oil and gas producers.
