FG returns 13 unsold oil blocs to licensing pool

The Federal Government has announced that 13 of the 50 oil and gas blocs offered under the 2025 Licensing Round will be returned to the licensing pool after failing to attract bids from investors.

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, disclosed this on Tuesday during the 2025 Commercial Bid Conference in Abuja.

Eyesan said that although 50 oil and gas blocs were made available, only 37 attracted interest from prospective investors.

“At the end of the exercise, we had 50 blocs on offer, but we only had representation for 37 of those 50 blocs.

“Thirteen of those blocks will be returning back to the basket,” she said.

She revealed that 143 indigenous and international companies submitted about 200 bids for the available assets after progressing through the licensing process.

“We have a total of 143 companies showing interest for 200 bids. That, for us, was remarkable, and I must say thank you,” Eyesan added.

According to her, nearly 300 companies initially expressed interest in the licensing round, a development she described as a sign of growing investor confidence in Nigeria’s upstream petroleum industry.

“When we started the journey, we got interest from almost 300 companies. I repeat, almost 300 companies. That, in my view, was an indication that the tide has turned for Nigeria,” she said.

She explained that the number of interested firms was reduced to 196 after the prequalification stage before advancing to the technical and commercial bid phases.

“From the almost 300 interests that we got, we moved to the pre-qualification stage, and that number was pruned down to 196,” she added.

The 2025 Licensing Round, launched on November 11, 2025, under the Petroleum Industry Act (PIA) 2021, offered 50 oil and gas blocs across seven sedimentary basins, including the Niger Delta, Benin, Anambra, Chad and Benue basins.

The licensing process began with the opening of the bid portal on December 1, 2025, followed by a pre-bid conference in Lagos on January 14, 2026. Prequalification submissions closed on February 27, while evaluations were concluded on March 16.

Winning bidders are being selected through a weighted assessment of technical and commercial criteria, including signature bonus commitments, work programme proposals and performance guarantees, with the aim of awarding assets to investors capable of accelerating exploration and production in Nigeria’s upstream oil and gas sector.