The Nigerian Upstream Petroleum Regulatory Commission will today open the commercial bidding phase of the 2025 oil and gas licensing round, with 143 companies competing for 50 oil and gas blocks across the country’s major and frontier hydrocarbon basins.
The invitation-only Commercial Bid Conference will hold in Abuja, marking a crucial stage in the licensing process that commenced in November 2025 under the Petroleum Industry Act 2021.
A statement issued on Monday by the commission’s Head of Media and Corporate Communications, Eniola Akinkuotu, said only companies that successfully passed the prequalification exercise had been invited to participate.
“The Nigerian Upstream Petroleum Regulatory Commission has invited qualified companies to the highly anticipated Commercial Bid Conference slated for July 21, 2026,” the statement said.
It added, “These companies, which scaled through the transparent and rigorous process, have been notified and are expected to physically attend the Commercial Bid Conference taking place at the Conference Centre, Transcorp Hilton Hotel, Abuja. Attendance is strictly by invitation.”
According to the commission, the 50 assets comprise 16 Niger Delta onshore blocks, 18 Niger Delta shallow water blocks, one deep offshore block, three Benin Basin onshore blocks, four Anambra Basin onshore blocks, four Chad Basin onshore blocks and four Benue Trough blocks.
NUPRC said the bids would be assessed using key commercial and technical parameters, including signature bonus, work programme commitments and performance security.
It stated, “In line with the guidelines, the elements of the bid parameters include the signature bonus, the work programme commitment and commitment to performance security, culminating in a weighted technical and commercial score that will determine the winning bid.”
The commission disclosed that 286 companies initially applied for prequalification, while 196 firms progressed to the technical and commercial bidding stage after evaluation.
However, only 143 companies eventually submitted 200 bids for the 50 blocks, indicating that several firms are contesting multiple assets.
The licensing round is part of the Federal Government’s efforts to attract fresh investment into the upstream petroleum sector, boost crude oil and gas production and encourage exploration beyond the traditional Niger Delta producing areas.
The commercial bid exercise is also expected to test investors’ financial strength and operational capacity, as the government seeks to unlock underdeveloped petroleum assets and increase feedstock supply for Nigeria’s expanding domestic refining industry.
Industry stakeholders are expected to closely monitor the outcome of the exercise, which is seen as a key indicator of investor confidence in Nigeria’s upstream sector following reforms introduced under the Petroleum Industry Act.
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