NUPRC opens 50 oil, gas blocs for bidding

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened 50 oil and gas blocs across five sedimentary basins for bidding in the 2025 licensing round, stressing that only technically competent and financially capable firms will qualify.

The Commission’s Chief Executive, Oritsemeyiwa Eyesan, disclosed this on Wednesday during the pre-bid webinar for the 2025 licensing round, where the regulator outlined the bidding framework, evaluation criteria and commercial terms.

Eyesan said the exercise is aimed at eliminating speculative participation and repositioning Nigeria’s upstream sector as a transparent, rules-based destination for long-term investment.

She described the licensing round as a strategic move to boost reserves, raise production and strengthen energy security.

According to her, the selection process will be strictly merit-based, with emphasis on technical expertise, financial strength and credible development plans.

“Only candidates with strong technical and financial credentials and clear work programmes will progress.

“Winners will be selected through a transparent process that leads from award to exploration, appraisal and production,” she said.

She noted that the 50 blocks are spread across five of Nigeria’s seven sedimentary basins, covering both frontier and mature areas.

“With presidential approval, the Commission reviewed the commercial structure to lower entry barriers while discouraging unserious bidders.

Signature bonuses for the round have been set between $3 million and $7 million, with greater weight placed on technical capability, work programmes and speed to production rather than aggressive cash bids.

Eyesan said the bidding process would follow five stages—registration and pre-qualification, data acquisition, technical bid submission, evaluation and commercial bid conference—and would fully comply with the Petroleum Industry Act (PIA) 2021. Digital tools, she added, would be deployed to ensure transparency and public scrutiny through agencies such as the Nigeria Extractive Industries Transparency Initiative (NEITI).

She confirmed that all licensing materials have been available on the Commission’s portal since December 1, 2025, with support channels in place for investors, adding that the round signals a restructured upstream sector focused on long-term value creation.

In a technical presentation, the Director of Lease Administration, Exploration and Acreage Management at NUPRC, Amber Ndoma-Egba, said the blocks cut across the Chad Basin, Benue Trough, Anambra Basin, Bida Basin and the Niger Delta.

He explained that technical evaluation would assess subsurface understanding, exploration work programmes, development concepts, sustainability, decarbonisation plans and host community development. He added that a minimum work performance security of one per cent has been approved to support investment, though bidders may raise it to improve their scores.

The NUPRC had announced the commencement of the 2025 licensing round on December 1, 2025, targeting about $10 billion in new investments.