.As NUPRC plans 2025 oil licensing round for undeveloped fields
UGO AMADI
TotalEnergies , MRS Oil and Gas Company Limited, Sifax & Royalgate Consortium, , Sahara Deepwater Resource Limited, Petroli Energy Marketing & Supply Limited, and Panout Oil and Gas Ltd, have emerged winners of key oil blocks at the latest oil licensing bid round in Africa’s biggest oil-producing country.
This is as Mr Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says a new round of oil licensing bid will take place in 2025.
Komolafe made the announcement as the commission approaches the conclusion of the ongoing 2024 Licensing Round Commercial Bid Conference in Lagos on Wednesday
He said that the commission intends to make licensing rounds an annual event to boost oil production.
The 2025 round, he said, would focus on unexplored assets, signaling the country’s commitment to further harnessing its vast oil and gas potential.
The 2024 rounds, overseen by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), allocated several coveted deep offshore and shallow water assets, signaling a renewed commitment to boosting the country’s hydrocarbon exploration and production.
The 2022/23 Mini Bid Round, featuring seven deep offshore assets, saw six blocks receiving qualified bids, underscoring the sector’s strong appeal to investors.
Among the significant outcomes, Sifax & Royalgate Consortium emerged as the sole bidder for Petroleum Prospecting License (PPL) 300-DO, while Ocean Gate Engineering Oil & Gas Limited clinched PPL 302.
Competitive bidding also played a crucial role, as Sifax Royalgate Consortium outperformed Homeland Integrated Offshore Services Limited to secure PPL 304.
MRS Oil and Gas Company Limited outbid NNPC Exploration and Production Limited for PPL 303
Similarly, Hakilat Oil and Gas Consortium Limited outbid NNPC Exploration and Production Limited to win PPL 305, while Biswal Oil and Gas Limited bested NNPC Exploration and Production Limited for PPL 306.
The competition further intensified in the 2024 Licensing Round, with some assets attracting bids from multiple industry players.
Petroli Energy Marketing & Supply Limited secured PPL 269 by outbidding AFAGAF Company. Sahara Deepwater Resource Limited emerged as a dominant force, winning PPL 270 and PPL 271 through competitive bids against AMG Exploration and Production Company Limited, Kalm Marine Petroleum Exploration and Production Nigeria Limited, and RBO Energy Service Limited.
Panout Oil and Gas Limited emerged victorious in one of the most contested blocks, PPL 300/301-CS, prevailing over Petroli Energy Marketing & Supply Limited, Star Deepwater & Petroleum Limited, and TotalEnergies E&P Nigeria.
Several blocks saw sole bidders emerge as winners, reflecting targeted strategies by companies to secure key assets.
Biswal Oil and Gas claimed PPL 2002 unchallenged, while First Exploration and Petroleum Development Company Limited secured PPL 2003.
Dewayles International Limited, Applefield Oil and Gas Limited, First Exploration and Petroleum Development Company, R28 Holdings Limited, and Tulcan Energy Exploration and Production Company Limited also clinched PPL 2004, PPL 2005, PPL 2006, PPL 2007; PPL 2008 their respective blocks without competition.
Broron Energy Limited’s victory over Star Deepwater Petroleum Resources Limited for PPL 2009 highlighted the competitive spirit of the licensing rounds.
Additional sole wins included Ocean Gate Engineering Oil & Gas Limited for PPL 3007, R28 Holdings Limited for PPL 3011, and Tulcan Energy Exploration and Production Company Limited for PPL 3012. Panout Oil and Gas Limited, Hakilat Oil and Gas Consortium Limited, and Applefield Oil and Gas Limited, also secured wins for PPL 3015, PPL 3016, and PPL 3017, respectively.
Meanwhile, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans for a 2025 oil licensing round to unlock the potential of discovered but undeveloped fields, commonly referred to as “fallow assets.”
This declaration was made during the 2024 Commercial Bid Conference held in Lagos, where Gbenga Komolafe, the commission’s chief executive, highlighted the nation’s commitment to transparency, sustainability, and economic growth in its upstream petroleum sector.
Komolafe highlighted the strategic importance of fallow assets in boosting Nigeria’s energy output. These fields, which remain underutilised despite significant discoveries, represent a critical opportunity to increase production, create jobs, and attract foreign direct investment.
“NUPRC will launch another Licensing Round in 2025. Building on the lessons learned from this year’s round,” Komolafe said.
He added, “The 2025 exercise will focus on discovered but undeveloped fields (fallow assets) and prioritise natural gas development to support Nigeria’s commitment to UN Sustainable Development Goals”.
Nigeria is seeking to halt the flow of investments to African rivals Angola and Namibia by improving the ease of acquiring oil blocks.
The NUPRC chief executive said further that the current licensing round aimed to unlock these resources, enhance production, and expand natural gas utilisation opportunities.
“The 2024 round is designed with investor-friendly terms, streamlined block allocations, and a strong focus on local content development.
“It also emphasises sustainability, ensuring that all exploration and production activities adhere to global best practices and environmental stewardship,” he said.
According to Komolafe, Nigeria’s oil and gas sector is poised for transformation, driven by the support of the PIA and Presidential Executive Orders.
He expressed confidence that the country was well-positioned to attract investment and achieve early exploration and production milestones.
The NUPRC chief stressed that the 2024 Licensing Round was more than just a commercial initiative.
He said that it is a transformative opportunity for Nigeria to harness its energy resources, stimulate economic growth, and attract new investments to the sector.
“The 2024 Licensing Round marks a bold declaration that Nigeria is ready for business.
“The country is poised to continue its journey toward becoming a leading player in the global energy market.
2022/ 2023 DEEPOFFSHORE LICENCING ROUND
LICENCE WINNING BIDDER and RESERVE BIDDER
1 PPL 300- DO SIFAX & ROYALGATE CONSORTIUM –
2 PPL 302- DO OCEAN GATE ENGINEERING OIL AND GAS LIMITED –
3 PPL 303- DO MRS OIL AND GAS COMPANY LIMITED
RESERVE BIDDER: NNPC E & P Ltd
4 PPL 304-DO SIFAX & ROYALGATE CONSORTIUM
RESERVE BIDDER : HOMELAND INTEGRATED OFFSHORE SERVICES LIMITED
5 PPL 305-DO HAKILAT OIL AND GAS CONSORTIUM LIMITED
. RESERVE BIDDER : NNPC E & P Ltd
6 PPL 306-DO BISWAL OIL AND GAS LIMITED
RESERVE BIDDER :NNPC EXPLORATION & PRODUCTION LIMITED
B.2024 LICENCING ROUND
LICENCE WINNING BIDDER and RESERVE BIDDER
1..PPL 269PETROLI ENERGY MARKETING & SUPPLY LIMITEDA
RESERVE BIDDER : FAGAF COMPANY LTD
2..PPL 270SAHARA DEEPWATER RESOURCE LIMITED
RESERVE BIDDER : AMG E&P COMPANY LIMITED
3.PPL 271 SAHARA DEEPWATER RESOURCE LIMITED
RESERVE BIDDER :RBO ENERGY SERVICES LIMITED
4.PPL 300/ 301 CSPANOUT OIL & GAS LIMITED
RESERVE BIDDER : PETROLI ENERGY MARKETING & SUPPLY LTD
5.PPL 2000/ 2001 TOTALENERGIES E&P NIGERIA
RESERVE BIDDER :STAR DEEPWATER PETROLEUM LIMITED
6.PPL 2002 BISWAL OIL AND GAS LIMITED-
7.PPL 2003 FIRST E&P DEVELOPMENT COMPANY LIMITED-
- PPL 2004DEWAYLES INTERNATIONAL LIMITED-
9.PPL 2005APPLEFIELD OIL AND GAS LIMITED-
10.PPL 2006FIRST E&P DEVELOPMENT COMPANY LIMITED-
11.PPL 2007R28 HOLDINGS LIMITED-
12.PPL 2008TULCAN ENERGY E&P COMPANY LIMITED-
13.PPL 2009BRORON ENERGY LIMITED
RESERVE BIDDER :STAR DEEPWATER PETROLEUM LIMITED
14.PPL 3007 OCEAN GATE ENGINEERING OIL AND GAS LIMITED-
15.PPL 3011 R28 HOLDINGS LIMITED-
16.PPL 3012 TULCAN ENERGY E&P COMPANY LIMITED-
17.PPL 3015 PANOUT OIL & GAS LIMITED-
18.PPL 3016 HAKILAT OIL AND GAS CONSORTIUM LIMITED-
19.PPL 3017 APPLEFIELD OIL AND GAS LIMITED-
