NUPRC awards 37 oil blocks, warns against delays

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared 31 companies as the winners of 37 oil and gas blocks awarded under the 2025 Licensing Round. The conclusion of the commercial bid conference marks the end of an eight-month process, during which the commission reported that its evaluation team faced significant intimidation and pressure.

NUPRC Chief Executive Oritsemeyiwa Eyesan stated that officials involved in evaluating the bids endured repeated threats until the eve of the commercial bid opening. "The evaluators have worked tirelessly since June 12. They have been inundated with calls and with threats, serious threats, but they stood their ground," Eyesan said, emphasizing that the commission refused to compromise the exercise's integrity. She assured that the process was credible and transparent, thanking evaluators and observers from the Nigeria Extractive Industries Transparency Initiative for their support.

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It has been a journey… If you have been told anything contrary to the fact that this process was going to be credible and transparent, do not believe it.

Out of 143 companies that submitted approximately 200 bids for 37 blocks from the 50 offered, 31 companies emerged as preferred bidders. These successful firms, including SSonic Petroleum Limited, CFP Pipeline and Flowlines, and Dutchford E&P Limited, must now pay their signature bonuses and meet other post-award conditions within 90 days. Failure to do so risks forfeiture of the assets to reserve bidders.

Eyesan urged the winners to commence the post-award processes promptly. The NUPRC's commitment to a credible licensing round aligns with President Bola Tinubu's mandate to ensure transparency and attract business to Nigeria's oil and gas sector. The successful conclusion of this round is seen as a step towards demonstrating Nigeria's openness for investment.

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The evaluators have worked tirelessly since June 12. They have been inundated with calls and with threats, serious threats, but they stood their ground. Up until yesterday, we were still threatened, but we stood our ground to say that the times have changed. Nigeria is really open for business.