The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 143 companies have advanced to the commercial bidding stage of the 2025 Licensing Round, submitting a total of 200 bids for 50 oil and gas blocks across the country.
The commission disclosed this in a statement signed by its Head of Media and Corporate Communications, Eniola Akinkuotu, announcing that the successful firms will participate in the Commercial Bid Conference scheduled for July 21, 2026, in Abuja.
According to the NUPRC, only companies that successfully completed the rigorous prequalification process will participate in the next phase of the licensing exercise.
The commission said the registration and submission of applications for prequalification closed on February 27, 2026, while the evaluation process was completed on March 16, 2026.
Out of 286 companies that applied for prequalification, 196 firms met the requirements to participate in the technical and commercial bid stages. Of those, 143 companies eventually submitted 200 commercial bids for the available assets.
“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has invited qualified companies to the highly anticipated Commercial Bid Conference slated for July 21, 2026,” the statement said.
The conference will be held at the Transcorp Hilton Hotel, Abuja, where bidders are expected to participate physically.
The licensing round covers 50 oil and gas blocks spread across several of Nigeria’s major hydrocarbon basins.
The assets include:
- 16 Niger Delta Onshore blocks
- 18 Niger Delta Shallow Water blocks
- 1 Deep Offshore block
- 3 Benin Basin Onshore blocks
- 4 Anambra Basin Onshore blocks
- 4 Chad Basin Onshore blocks
- 4 Benue Trough blocks
According to the commission, the evaluation process will combine both technical and commercial criteria.
Key bid parameters include:
- Signature bonus
- Work programme commitments
- Performance security commitments
These factors will be weighted to produce an overall technical and commercial score that will determine the successful bidders.
The NUPRC noted that the 2025 Licensing Round was officially launched on November 11, 2025, in line with the provisions of the Petroleum Industry Act (PIA) 2021.
The online bid portal opened on December 1, 2025, followed by a Pre-Bid Conference held on January 14, 2026, at Eko Hotels and Suites, Lagos.
According to the commission, the conference provided an opportunity to explain the licensing guidelines and bidding requirements to registered companies and other stakeholders.
The commercial bid conference marks another significant milestone in Nigeria’s efforts to attract fresh investment into the upstream petroleum sector, boost exploration activities and unlock new oil and gas resources under the regulatory framework established by the Petroleum Industry Act.
