The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened the 2025 Oil Licensing Round, unveiling a fully digital bidding portal designed to deepen investment and enhance transparency in Nigeria’s upstream oil and gas sector. Commission CEO Gbenga Komolafe announced the launch at a press briefing in Abuja, revealing the portal: br2025.nuprc.gov.ng, aimed at providing seamless access for prospective investors.
Komolafe emphasized that the portal was developed to expand investment opportunities, improve transparency, and accelerate exploration across the nation’s oil and gas value chain. He highlighted the success of previous licensing initiatives, including the 2022 Mini-Bid Round and the 2024 Licensing Round, which were praised for their transparency and competitiveness and concluded without litigation.
With President Bola Tinubu’s approval, NUPRC has placed 50 oil and gas blocks on offer across diverse terrains, including 15 onshore, 19 shallow water, 15 frontier assets, and one deepwater block. Komolafe said the 2025 round aims to increase Nigeria’s reserves, boost production capacity, expand gas utilization, enhance indigenous participation, and create thousands of jobs, while reducing signature bonuses to attract more investors.
The Commission is also de-risking exploration by providing extensive multi-client surveys and improved seismic data, a move designed to lower entry costs, shorten the time to first oil or gas, and strengthen investor confidence. Komolafe projected that the 2025 Licensing Round could attract around $10 billion in investments, add up to two billion barrels to national reserves over the next decade, and generate an estimated 400,000 barrels per day from fully developed assets.
The bidding process will follow a two-stage, fully digital system consisting of qualification and bidding stages. Komolafe stressed that participation will be open to all companies regardless of age or incorporation date, focusing instead on technical competence, professionalism, and financial capability. All guidelines and requirements are available on the NUPRC website to ensure a transparent and globally aligned process.
source: nairametrics