Despite strong investor participation in the 2025 Licensing Round, 13 oil and gas blocks will be returned to the licensing basket after receiving no bids, the Nigerian Upstream Petroleum Regulatory Commission says.

FG Returns 13 Oil Blocks to Licensing Basket After Failing to Attract Bids

37 of 50 Blocks Draw Investor Interest

THE Federal Government has announced that 13 oil and gas blocks offered during the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids from prospective investors.

The disclosure was made by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, during the 2025 Commercial Bid Conference held in Abuja.

According to Eyesan, although 50 oil and gas blocks were presented to investors, commercial bids were received for only 37 assets, leaving the remaining 13 without any representation.

She said the unbid blocks would be returned to the licensing basket for possible inclusion in future licensing exercises.

143 Companies Submit About 200 Bids

Despite the outcome for some of the assets, the regulator described overall investor participation as encouraging.

Eyesan disclosed that 143 companies submitted approximately 200 bids for the available blocks, describing the level of participation as a positive indication of renewed confidence in Nigeria’s upstream petroleum industry.

She noted that nearly 300 companies initially expressed interest in the licensing exercise before the number was reduced through the mandatory prequalification process.

According to her, the field narrowed to 196 qualified companies before 143 eventually progressed to the commercial bidding stage.

Licensing Round Conducted Under PIA

The 2025 Licensing Round was launched on 11 November 2025 in accordance with the provisions of the Petroleum Industry Act (PIA) 2021.

The exercise offered 50 oil and gas blocks distributed across seven sedimentary basins, including the Niger Delta, shallow offshore areas, deep offshore, Benin Basin, Anambra Basin, Chad Basin and the Benue Trough.

Registration and prequalification exercises were conducted between December 2025 and March 2026 following a pre-bid conference held in Lagos.

Evaluation Based on Technical and Financial Capacity

The NUPRC explained that successful bidders are being selected through a comprehensive evaluation process that combines technical competence and commercial strength.

The assessment considers proposed signature bonuses, work programmes and performance guarantees to ensure that petroleum assets are awarded to companies with the financial capacity and operational expertise required to accelerate exploration and production.

Industry stakeholders say the approach is intended to promote sustainable investment while strengthening Nigeria’s upstream oil and gas sector.