A wave of oil licensing rounds is sweeping across Africa, as oil-producing nations roll out strategies to attract fresh investment and revitalise their energy sectors.
Nigeria is set to kick off its 2025 oil licence auction on December 1, 2025, the country’s upstream regulator announced in London. The initiative aims to revive idle assets and ramp up production, signaling renewed opportunities for investors.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, said, “We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act, to commence the 2025 licensing round beginning December 1, 2025.”
The regulator, which plans to hold these auctions annually, is focusing on discovered but undeveloped fields and fallow assets in the Niger Delta, with a strong emphasis on natural gas development.
Nigeria’s renewed push comes after years of declining production due to underinvestment, infrastructure sabotage, and regulatory uncertainty. The country stated that the 2025 licensing round is designed to attract new capital, increase crude output, diversify sector players, and boost government revenue.
Key highlights:
Launch Date: December 1, 2025, approved by President Bola Tinubu.
Purpose: Encourage investment, revive idle assets, and enhance revenue.
Legal Framework: Fully aligned with the Petroleum Industry Act (PIA) for transparency and regulatory certainty.
Production Targets: Aim to add 1 million barrels per day (bpd) to the current ~1.7 million bpd, potentially reaching 2.8 million bpd.
Investment Focus: Funding encouraged for FPSOs, FSOs, Modular Offshore Production Units, and Early Production Facilities.
Sector Recovery: 46 Field Development Plans approved; active rig count above 60; peak output 1.83 million bpd.
Other African nations are also moving to attract investment. Angola plans its 2025 bid round for offshore blocks in the Kwanza and Benguela basins, aiming to secure 60 concessions by year-end. Sierra Leone is preparing a new licensing round to accelerate exploration, while Libya’s National Oil Corporation will offer blocks in the Murzuq, Ghadames, and Sirte basins. Cameroon concluded its 2025 round in October, and Equatorial Guinea is set to begin its 2026 round to boost exploration.
These moves underscore Africa’s growing competitiveness and signal to global investors that the continent remains a key player in the evolving energy landscape, striking a balance between production growth and opportunities in the energy transition.
