…Eyes 300,000 bpd from latest auction
…Winners face 90-day clock
Nigeria handed out 37 oil and gas blocks to 31 companies on Tuesday, capping a licensing round that regulators say marked the first time frontier basins far from the country’s traditional Niger Delta heartland drew serious investor appetite.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said 143 firms lodged 200 bids for the blocks on offer in Abuja, though only 37 of the 50 available assets attracted any bids at all.
The remaining 13 will go back to the drawing board for further technical work before returning to market, according to the commission.
The bulk of the winning blocks sit in familiar territory with 16 in the Niger Delta onshore and 18 in the shallow water, plus a single deep-offshore block.
But the round’s headline was the interest shown in acreage the industry has long treated as unproven: three blocks
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