FG: Highest Bidder Won’t Automatically Secure 2025 Oil Blocks, Technical Expertise Matters

The Federal Government says the highest financial bid will not guarantee award of oil blocks in the 2025 Licensing Round. NUPRC CEO Oritsemeyiwa Eyesan said technical competence, operational capacity and credible work plans will be decisive in selecting winners. Eyesan explained that bidders are assessed on industry experience, resource commitment and ability to deliver projects on schedule. She assured stakeholders that the process is objective and transparent, with commercial bids opened without prior knowledge of competitors’ offers. Launched under the Petroleum Industry Act 2021, the 2025 Licensing Round made 50 blocks available across seven sedimentary basins. A weighted evaluation now combines technical and commercial scores to ensure assets go to firms capable of efficient and sustainable development.

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