FG fixes June 12 deadline for oil bids

The Federal Government of Nigeria, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has announced June 12, 2026, as the submission deadline for technical and commercial bids in the ongoing 2025 Licensing Round.

This deadline marks a critical phase in the exercise, as prequalified applicants compete for opportunities within Nigeria's upstream petroleum sector. The NUPRC urged all eligible bidders to adhere strictly to the timelines outlined in the licensing guidelines, emphasizing the importance of the submission process for attracting capital and enhancing hydrocarbon production.

The 2025 Licensing Round, conducted under the Petroleum Industry Act, is a key component of the government's strategy to unlock dormant hydrocarbon assets, intensify exploration, and expand the country's reserve base. The process involves a two-stage approach: qualification followed by the submission of final proposals.

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The NUPRC hereby notifies the general public that submission of Technical and Commercial Bids by Prequalified Applicants for the 2025 Licensing Round closes on Friday, June 12, 2026, at 16:30 hours (WAT) in line with the 2025 Licensing Round Guidelines.

This round offers a total of 50 oil and gas blocks, comprising 15 onshore, 19 shallow-water, 15 frontier, and one deep-water block. The government anticipates attracting approximately $10 billion in investment through this initiative. Projections suggest that the successful development of these blocks could unlock around 2 billion barrels of oil over the next decade, potentially adding about 400,000 barrels per day to production.

The NUPRC confirmed the completion of the prequalification stage in March and has notified successful applicants. The commission is also preparing for the 2026 Licensing Round, which has received ministerial approval and is expected to commence by the third quarter of 2026, signaling a sustained effort to maintain investor confidence in Nigeria's oil and gas industry.

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For more details, visit the licensing round portal: br2025.nuprc.gov.ng.