Full List: 31 Companies Secure 37 Oil and Gas Blocks in Nigeria's Biggest Licensing Round
- Nigeria's 2025 Licensing Round drew 143 companies that submitted about 200 bids for 37 of the 50 available oil and gas blocks
- The 37 winning blocks span the Niger Delta, deep offshore, and frontier basins, including the Chad Basin and Benue Trough
- NUPRC chief Oritsemeyiwa Eyesan warned winners to pay signature bonuses quickly or risk losing their blocks under a 'drill or drop' policy
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Thirty-one companies have secured rights to 37 oil and gas blocks following the conclusion of Nigeria's 2025 Licensing Round commercial bid conference, held on Tuesday, July 21, 2026, at the Transcorp Event Centre in Abuja.
The exercise attracted 143 companies that collectively submitted around 200 bids across the 37 blocks that received offers, out of the 50 blocks the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had made available. The remaining 13 blocks drew no interest from bidders.
Source: UGC
The awarded blocks cover a range of terrains, from the Niger Delta onshore and shallow-water areas to deep-offshore zones, as well as frontier basins such as the Benin, Anambra, and Chad basins, and the Benue Trough.
Nigeria's Frontier Basins Draw First-Time Investor Interest
According to Premium Times, the NUPRC highlighted the participation in the frontier basins as a landmark development, describing it as the first time those areas have attracted meaningful investor attention during a licensing exercise.
Among the 31 winning companies are SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF, Gupsco Energy Limited, Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited, Riparian Development and Production Limited, Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited.
However, the companies will not receive their formal awards immediately. The NUPRC said final approval requires each winner to first pay the applicable signature bonus and obtain clearance from the Minister of Petroleum Resources, as required under the Petroleum Industry Act (PIA) 2021.
NUPRC Chief Warns Winners on Undeveloped Assets
NUPRC Chief Executive Oritsemeyiwa Eyesan acknowledged President Bola Tinubu's support in ensuring the round was conducted successfully.
She congratulated the winning bidders but issued a firm warning: companies that fail to develop their awarded assets promptly risk having those assets withdrawn under the commission's "drill or drop" policy.
Representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, and the Nigeria Extractive Industries Transparency Initiative (NEITI) monitored the conference to ensure the process complied with relevant laws and transparency standards.
Recall that the FG had threatened to withdraw the licences of oil blocks that have remained undeveloped for years, as it moves to tighten enforcement of timelines in the country’s upstream oil sector.
Nigerian company wins 3 oil blocks in Angola
In related news, Legit.ng earlier reported that a Nigerian oil company, Walcot Group, signed a petroleum-sharing agreement with the oil regulator for three oil blocks.
The deal with the Angolan National Agency for Petroleum, Gas and Biofuels came after Walcot’s successful bid for three oil mining licences.
The licences hold an estimated three billion barrels of crude oil spanning several square kilometres.
Source: Legit.ng
