FG Reopens 13 Oil Blocks After They Fail to Attract Investor Bids
NUPRC Reopens 13 Unsold Oil Blocks for Future Licensing
The Federal Government has announced that 13 oil and gas blocks offered during Nigeria's 2025 Licensing Round will be returned to the licensing pool after failing to attract commercial bids from investors. The decision follows the conclusion of the commercial bidding process conducted by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
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The announcement was made by the Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, during the 2025 Commercial Bid Conference in Abuja, where the commission provided an update on the outcome of the licensing exercise.
Thirteen blocks receive no bids
According to the commission, 50 oil and gas blocks were offered during the 2025 Licensing Round, but investors submitted bids for only 37 blocks, leaving 13 without any commercial interest.
Eyesan said the unsold assets would be returned to the government's licensing portfolio for future allocation.
Despite the unbid blocks, she described the exercise as successful, noting that 143 companies participated in the commercial bidding process and submitted approximately 200 bids for the available assets.
Investor participation remains strong
The NUPRC said investor interest in the licensing round exceeded initial expectations.
According to Eyesan, nearly 300 companies initially expressed interest in participating before the prequalification process reduced the number to 196 firms. Following technical and commercial evaluations, 143 companies advanced to the final bidding stage.
She said the level of participation reflects renewed confidence in Nigeria's upstream petroleum sector as regulatory reforms under the Petroleum Industry Act (PIA) continue to reshape the investment landscape.
Licensing round covered seven sedimentary basins
The 2025 Licensing Round, launched in November 2025 under the provisions of the Petroleum Industry Act 2021, offered assets across seven sedimentary basins.
The portfolio included:
16 onshore blocks in the Niger Delta
18 shallow water blocks
One deep offshore block
Three blocks in the Benin Basin
Four blocks in the Anambra Basin
Four blocks in the Chad Basin
Four blocks in the Benue Trough
The licensing process began with the opening of the bid portal in December 2025, followed by prequalification, technical assessments and commercial bidding.
Evaluation based on technical and commercial capacity
The NUPRC said successful bidders will be selected using a weighted evaluation process that considers signature bonus commitments, proposed work programmes and performance security, alongside technical competence.
The commission said the approach is intended to ensure petroleum assets are awarded to companies with the financial strength and operational capacity required to accelerate exploration and production activities.
Outlook
The decision to return the 13 unsold blocks to the licensing pool allows the government to reoffer the assets in future bid rounds while maintaining momentum in its efforts to attract upstream investment. As Nigeria seeks to increase crude oil production and strengthen investor confidence, upcoming licensing exercises are expected to remain a key component of the country's energy sector strategy.
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