NUPRC to hold commercial bid conference for 50 oil, gas blocks

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to hold a commercial bid conference for its 2025 Licensing Round on Tuesday, advancing the process of allocating 50 oil and gas blocks nationwide. This event signifies a crucial stage in the licensing round, which commenced with its announcement on November 11, 2025, in accordance with the Petroleum Industry Act (PIA) 2021.

The licensing round encompasses a diverse range of terrains, including 16 onshore blocks in the Niger Delta, 18 shallow water blocks, one deep offshore block, and several blocks in the Benin, Anambra, Chad, and Benue Basins. The bid portal opened for registration on December 1, 2025, following a pre-bid conference held on January 14 in Lagos to guide prospective bidders and stakeholders on the licensing guidelines.

Commercial evaluation for these blocks will be based on key parameters such as the signature bonus, work program commitment, and commitment to performance security. These factors will be combined to create a weighted technical and commercial score, determining the successful bidders. The prequalification process saw 286 companies submit applications, with 196 qualifying to proceed. Ultimately, 143 companies submitted 200 bids and are expected to participate in the upcoming commercial bid conference.

Registration and submission for prequalification closed on February 27, with the exercise concluding on March 16. The NUPRC has emphasized that attendance at the commercial bid conference, scheduled to take place at the Transcorp Hilton Hotel in Abuja, is strictly by invitation for prequalified companies.