…as Frontier Basins record historic investor interest
Following a keenly contested bidding process, 31 companies have emerged as winners of 37 oil and gas blocks in the 2025 Licensing Round.
A total of 143 companies submitted 200 bids for 37 out of the 50 oil and gas blocks originally put on offer.
The assets spanned diverse terrains, comprising 16 blocks in the Niger Delta Onshore, 18 in the Niger Delta Shallow Water, four in the Anambra Basin Onshore, four in the Chad Basin Onshore, four in the Benue Trough, three in the Benin Basin Onshore, and one in the Niger Delta Deep Offshore.
While 37 blocks attracted competitive interest across all terrains, the remaining 13 blocks received no bids. Notably, this marks the first time in Nigeria’s energy history that frontier basins such as the Benue Trough, Chad Basin, Anambra Basin, and Benin Basin have drawn such significant investor interest.
The successful bidding firms include SSonic Petroleum Limited (PPL 2A29), CFP Pipeline and Flowlines (2A30), Dutchford E&P Limited (2A32), Attabanson Global Company Limited (2A33 and PPL 901), Rosem Energy Limited (2A38), Pivot-GIS Limited (2A39), Network E&P (2A40), Asharami (2A41), LexOil (2A42), BVOF (2A43), Gupsco Energy Limited (2A44 and 2A51), Saratoga (2A45), Volante (2A46), Concept-Reel Petroleum Services Limited (2A47 and 2A55), Clinton Oil Field (2A48 and 2A62), and Nuway Oaklane Limited (2A49).
Other awardees are Ramec (2A50), Italia (2A53), Blueridge E&P (2A54), Up Energies Limited (2A56), AYM Shafa (2A57), Blackrock Holdings Limited (2A58), Funtay Integrated Business Limited (2A59), Riparian Development and Production Limited (2A60), Nikstallis (2A61 and PPL 900), Stardeep Petroleum (PPL 2010), Dakoda & U Limited (PPL 308 and PPL 800), Southborne Oil and Gas Limited (PPL 902), Lanaka Petroleum (PPL 903), Highban Resources Limited (PPL 700), and Eyre Energy Limited (PPL 801).
Final award certificates will only be presented after these firms pay their respective signature bonuses and secure approval from the Minister of Petroleum Resources, in accordance with the Petroleum Industry Act (PIA) 2021.
In her remarks, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, expressed gratitude to President Bola Tinubu for supporting the Commission in delivering a seamless licensing round.
While congratulating the winners, Mrs. Eyesan urged them to pay their signature bonuses promptly and swiftly develop their assets or risk losing them under the Commission’s enforced drill or drop provision.
The commercial bid conference was closely monitored by representatives from the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI), and several other key stakeholders to ensure full compliance with extant laws.