13 Oil Blocks Return to Licensing Basket After Failing to Attract Bids
The Federal Government says 13 of the 50 oil and gas blocks on offer in the 2025 Licensing Round failed to attract bids and will be returned to the licensing basket. The Nigerian Upstream Petroleum Regulatory Commission CEO disclosed this at the Commercial Bid Conference in Abuja. Only 37 blocks received bids, with 143 companies submitting about 200 proposals. Nearly 300 firms initially showed interest but that number fell to 196 after prequalification. The assets offered span seven sedimentary basins, including 16 onshore Niger Delta blocks and one deep offshore block. Winning bids will be assessed on both technical expertise and commercial strength to boost exploration and production.
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