Favour Ishember, Abuja
A total of 143 companies filed 200 bids for 37 out of the 50 oil and gas blocks initially put on the table, setting the stage for a fierce competition that ended with 31 firms emerging as winners.
The results of the 2025 Licensing Round were announced on July 21, 2026 at the Transcorp Event Center in Abuja after what officials described as a keenly contested bidding process.
A press statement issued by Eniola Akinkuotu, Head, Media and Corporate Communications, said the 50 blocks on offer spanned varied landscapes across the country: Niger Delta Onshore accounted for 16, Niger Delta Shallow Water had 18, Niger Delta Deep Offshore had 1, Benin Basin Onshore had 3, Anambra Basin Onshore had 4, Chad Basin Onshore had 4, and Benue Trough had 4.
In the end, 37 blocks attracted bids while the remaining 13 received none. The 37 that drew interest cut across all regions, including the frontier areas — Benue Trough, Chad Basin, Anambra Basin and Benin Basin, the statement said.
Officials noted this marks the first time in Nigeria’s energy history that frontier basins have generated this level of investor appetite.
The 31 successful companies and their awarded blocks are:
SSonic Petroleum Limited (PPL 2A29), CFP Pipeline and Flowlines (2A30), Dutchford E&P Limited (2A32), Attabanson Global Company Limited (2A33 and PPL 901), Rosem Energy Limited (2A38), Pivot-GIS Limited (2A39), Network E&P (2A40), Asharami (2A41), LexOil (2A42), BVOF (2A43), Gupsco Energy Limited (2A44 and 2A51), Saratoga (2A45), Volante (2A46), Concept-Reel Petroleum Services Limited (2A47 and 2A55), Clinton Oil Field (2A48 and 2A62) and Nuway Oaklane Limited (2A49).
Also on the winners’ list: Ramec (2A50), Italia (2A53), Blueridge E&P (2A54), Up Energies Limited (2A56), AYM Shafa (2A57), Blackrock Holdings Limited (2A58), Funtay Integrated Business Limited (2A59), Riparian Development and Production Limited (2A60), Nikstallis (2A61 and PPL 900), Stardeep Petroleum (PPL 2010), Dakoda & U Limited (PPL308 and PPL 800), Southborne Oil and Gas Limited (PPL 902), Lanaka Petroleum (PPL 903), Highban Resources Limited (PPL 700), and Eyre Energy Limited (PPL 801).
The statement reads in part: Formal allocation will only follow payment of the required signature bonus and sign-off by the Minister of Petroleum Resources, in accordance with the Petroleum Industry Act, 2021.
Speaking at the event, Commission Chief Executive Mrs. Oritsemeyiwa Eyesan commended President Bola Tinubu for backing the Commission to deliver a smooth licensing exercise.
She congratulated the awardees and urged prompt payment of signature bonuses, warning that companies must develop the assets or forfeit them under the Commission’s “drill or drop” rule.
The commercial bid opening was observed by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industries Transparency Initiative (NEITI), and other key stakeholders, in line with existing regulations.
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