Licensing Round: Winners Move to Secure Blocks, Begin Bonus Payment
• NUPRC insists on 90-day compliance window
•Commission releases official list of winners
Emmanuel Addeh in Abuja
Successful bidders in Nigeria’s latest oil and gas licensing round have begun the process of securing their awarded blocks, with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) insisting on 90 days to complete statutory obligations, including payment of signature bonuses.
Yesterday, the Commission released the official list of winners after the conclusion of the commercial bid conference in Abuja, with 31 corporate entities emerging successful for 37 prospective licences out of the 50 assets put up for bidding.
The awards covered a wide range of prospective acreage, spanning the Niger Delta’s onshore and shallow water areas, deep offshore assets and frontier basins, including Anambra, Benue Trough, Benin and Chad.
Under the Petroleum Industry Act (PIA) 2021, the provisional awards represent the stage preceding the formal grant of Petroleum Prospecting Licences (PPLs), subject to the successful bidders fulfilling prescribed post-award conditions.
A major requirement is the payment of statutory signature bonuses, which range from $3 million to $7 million per block, alongside the execution of relevant contractual documentation and fulfilment of other regulatory obligations.
The NUPRC therefore made clear that the 90-day compliance period is binding, with provisional winners that fail to meet the requirements within the stipulated period liable to lose their bid guarantees and the affected assets.
“Exactly a month ago, the NUPRC hosted the 2025 commercial bid conference in Abuja where 31 companies emerged winners of 37 oil and gas blocks. Having issued the winners with the provisional awards, compliance with the payment of signature bonuses has already begun.
“Winners who fail to pay signature bonuses within the stipulated time frame in line with the Petroleum Industry Act will forfeit their bid guarantee and lose their provisional awards to the reserve bidders. Reproduced here is the full list of winners and reserve bidders,” the NUPRC stated yesterday.
The Commission said it may subsequently offer such blocks to pre-qualified reserve bidders, in line with the licensing framework.
A THISDAY review showed that the awards reflected a mixture of indigenous exploration companies and established industry operators.
For instance, in the Niger Delta onshore and shallow water areas, SSonic Petroleum Limited secured PPL 2A29, while CFP Pipelines and Flowlines Company Limited won PPL 2A30.
Dutchford Exploration and Production Company Limited secured PPL 2A32, Rosem Energy Limited won PPL 2A38, Network Exploration and Production Nigeria Limited secured PPL 2A40 and Lexoil Nigeria Limited won PPL 2A42.
Other successful bidders in the region included Volonte Oil and Gas Limited, PPL 2A46; Clinton Oil Field Limited, PPL 2A48 and PPL 2A62; Nuway Oaklane Limited, PPL 2A49; and Ramec Integrated Services Limited, PPL 2A50.
Italia Company Limited secured PPL 2A53, Blueridge Exploration and Production Limited won PPL 2A54, UP Energies Limited secured PPL 2A56, while AYM Shafa Limited won PPL 2A57.
Besides, Blackrock Energy Holdings Limited secured PPL 2A58, Funtay Integrated Business Limited won PPL 2A59 and Riparian Development and Production Limited secured PPL 2A60.
In the deep offshore segment, Star Deep Water Petroleum Limited secured PPL 2010.
Also, Gupsco Energy Limited emerged as a multiple-asset winner with PPL 2A44 and PPL 2A51, while Concept-Reel Petroleum Services Limited secured PPL 2A47 and PPL 2A55.
The licensing round also recorded awards in Nigeria’s frontier basins, potentially opening new areas of exploration beyond the country’s traditional oil-producing zones.
Dakoda and U Limited secured PPL 308 in Benin and PPL 800 in Benue, while Nikstallis Nigeria Limited won PPL 2A61 in the Niger Delta and PPL 900 in Anambra.
Attabason Global Company Nigeria Limited secured PPL 2A33 in the Niger Delta and PPL 901 in Anambra, while Southborne Oil and Gas Limited and Lanaka Petroleum Limited secured PPL 902 and PPL 903 respectively.
Highban Resources Limited won PPL 700 in the Chad Basin, while Eyrie Energy Limited secured PPL 801 in the Benue Trough.
The outcome of the licensing round is expected to boost exploration activity, attract fresh capital into the upstream sector and support efforts to increase Nigeria’s oil and gas reserves.
The NUPRC had emphasised technical capacity, financial strength and credible work programmes in assessing bidders, with the objective of ensuring that successful companies move quickly from the award stage into exploration and development activities.
The enforcement of the PIA’s “drill or drop” principle is also expected to limit the accumulation of dormant acreage and ensure that awarded blocks generate actual investment and exploration activity.
