The Federal Government has disclosed that investors shunned 13 oil and gas blocks located mainly in Nigeria’s frontier basins during the 2025 Licensing Round, forcing the Nigerian Upstream Petroleum Regulatory Commission to return the assets to the licensing basket for further geological studies before reoffering them.
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, said the government was not surprised by the outcome because the frontier assets had not been sufficiently de-risked to attract commercial investment.
An analysis of the event brochure showed that the assets include PPL 2A31, PPL 2A34, PPL 2A35, PPL 2A36, PPL 2A37, PPL 2A52, PPL 307, PPL 309, PPL 701, PPL 702, PPL 703, PPL 802 and PPL 803.
She, however, expressed optimism that additional geological work would improve the attractiveness of the assets before they are reintroduced in future bid rounds.
Speaking with journalists after the 2025 Commercial Bid
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