- 25 companies, including Sahara Deepwaters, Total Energies, First E&P, and MRS, have emerged as winners of oil blocks under the 2024 oil bidding round.
- The Nigerian Upstream Regulatory Commission (NUPRC) plans to hold a fresh oil bidding round in 2025.
- The 2024 licensing round offered 24 carefully selected blocks spanning onshore, shallow water, and deep offshore terrains.
The Nigerian Upstream Regulatory Commission (NUPRC) has announced the winners of the 2024 oil bidding round, with 25 companies emerging as winners of oil blocks. The winners include Sahara Deepwaters, Total Energies, First E&P, and MRS.
The commercial bid conference was held in Lagos, where the bids were opened and processed through an electronic bidding process. The bids were conducted in the presence of representatives from the Nigerian Extractive Industry Transparent Initiative, the Federal Ministry of Finance, and the Federal Ministry of Petroleum Resources.
The NUPRC has also announced plans to hold a fresh oil bidding round in 2025. The 2024 licensing round offered 24 carefully selected blocks spanning onshore, shallow water, and deep offshore terrains, in addition to seven deep offshore blocks carried over from the 2022 Mini Bid Round.
Speaking at the event, the Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe, emphasized the importance of transparency, accountability, and decarbonization measures in the management of the oil and gas sector. He also highlighted the unique features of the licensing round, designed to position the industry for far-reaching benefits.
