This post was originally published on this site.
Nigeria’s upstream regulator, NUPRC, has set a date to reveal successful bidders for 50 oil and gas blocksThe 2025 Licensing Round is expected to pull in roughly $10 billion in fresh investment across five major hydrocarbon basinsWinning companies will receive Petroleum Prospecting Licences and begin formal contract execution between July and October 2026
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will name the successful bidders for 50 oil and gas blocks on Tuesday, July 21, 2026, during its Commercial Bid Conference, bringing an eight-month licensing exercise to a close.
President Bola Tinubu approved the 2025 Licensing Round on December 1, 2025, under the Petroleum Industry Act (PIA) 2021.
Nigeria moves closer to awarding 50 oil and gas blocks Photo: BloombergSource: Getty Images
Nigeria’s $10 Billion Investment Target
The round covers 15 onshore blocks, 19 shallow-water blocks, 15 frontier blocks and one deep-offshore block, spread across the Niger Delta, Chad Basin, Benue Trough, Anambra Basin
