Frontier Basins Draw Record Interest as NUPRC Awards 37 Blocks To 31 Firms

Frontier basins drew record interest, in the 2025 Licencing Bid Round, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said on Tuesday, as it announced winners for 37 oil and gas blocks.

Chief executive of the NUPRC,  Oritsemeyiwa Eyesan, told reporters  in Abuja that 31 companies had emerged successful after a keenly contested bidding process.

“A total of 143 companies submitted 200 bids for 37 of the 50 blocks we put on offer,” she said.

Eyesan said the winning blocks were spread across several terrains. “The blocks come from the Niger Delta Onshore, Niger Delta Shallow Water, Niger Delta Deep Offshore, Benin Basin Onshore, Anambra Basin Onshore, Chad Basin Onshore and the Benue Trough,” she said, adding that this was the first time the frontier basins had attracted such high investor interest in Nigeria’s energy history.

She noted that while 50 blocks were on offer, only 37 received bids and were awarded. “No bids were received for the remaining 13 blocks,” Eyesan said. “But we are encouraged that frontier basins such as the Benue Trough, Chad Basin, Anambra Basin and the Benin Basin attracted competition this time.”

Listing the winners, Eyesan said companies that clinched blocks included SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P, Attabanson Global, Rosem Energy, Pivot-GIS, Network E&P, Asharami, LexOil, BVOF and Gupsco Energy. “Other successful bidders are Saratoga, Volante, Concept-Reel Petroleum Services, Clinton Oil Field, Nuway Oaklane, Ramec, Italia, Blueridge E&P and Up Energies,” she added.

She also named AYM Shafa, Blackrock Holdings, Funtay Integrated Business, Riparian Development and Production, Nikstallis, Stardeep Petroleum, Dakoda & U, Southborne Oil and Gas, Lanaka Petroleum, Highban Resources and Eyre Energy among the winners.

Eyesan said the awards were subject to payment of the appropriate signature bonuses and approval by the Minister of Petroleum Resources, in line with the Petroleum Industry Act, 2021. “We will present final awards only after the winners pay their signature bonuses and the Minister gives approval,” she said.

The NUPRC boss urged successful companies to move quickly to meet their obligations. “We congratulate the winners and urge them to pay their signature bonuses as quickly as possible,” Eyesan said. “They must also develop their assets or risk losing them under our drill-or-drop rules.”

She thanked President Bola Tinubu for supporting the Commission’s efforts to deliver a seamless licensing round. “We appreciate the Presidency for the support that made this process possible,” she said.

Representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industry Transparency Initiative (NEITI) and other stakeholders monitored the commercial bid conference, the Commission said. “The process was carried out in line with extant laws and with the required oversight,” Eyesan said.

The NUPRC’s announcement marks a notable shift in investor focus toward Nigeria’s frontier basins, which regulators hope will expand exploration and boost production in the long term.