• NUPRC launches a new licensing round covering onshore, shallow, deep, and frontier zones

• The offer includes 50 blocks aimed at attracting both local and international operators

• Abuja prepares consultations and bid reviews, with timelines yet to be announced

Nigeria has opened its 2025 oil bid round with a total of 50 blocks offered for exploration and development. The announcement was made on December 1, by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the agency that oversees the upstream segment of the oil sector.

According to the commission, the available blocks span onshore areas, shallow-water zones, deep-water zones, and frontier basins that remain lightly explored or untouched.

The breakdown includes 15 onshore blocks, 19 shallow-water blocks, 15 frontier-area blocks, and one deep-water block. The distribution is intended to draw interest from both national and foreign operators with the technical and financial capacity to develop the assets.

The process falls under the Petroleum Industry Act (PIA), the 2021 law that reshaped the governance of the sector. According to the National Bureau of Statistics, oil accounted for nearly 88% of Nigeria’s total export value in 2024, making it the country’s main source of foreign exchange.

The regulator says the potential reserves tied to the blocks could support the industry’s activity over the next decade. The most recent figures from the Organization of the Petroleum Exporting Countries show that Nigeria produced an average of 1.4 million barrels per day in 2024.

The launch comes as companies such as TotalEnergies have expressed interest in taking part in the 2025 round, according to NUPRC comments reported in the local press.

The commission says interested companies will be able to submit bids once deadlines are announced in the next phases of the process. Abuja plans a consultation period, followed by bid evaluations and block awards. No timetable has been released so far.

Abdel-Latif Boureima