The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the start of its 2025 oil licensing round, offering 50 blocks for bidding as the country seeks to boost output and attract new investment.
The commission’s chief executive, Mr Gbenga Komolafe, speaking on Monday, said the round includes 15 onshore blocks, 19 in shallow waters, 15 frontier assets and one deepwater block.
“The Nigeria 2025 licensing round is expected to attract about $10 billion in investment and add up to 2 billion barrels of oil output over the next 10 years, with an estimated 400,000 barrels per day of production when fully operational,” the NUPRC chief executive said.
The 2025 Licensing Round is aimed at unlocking Nigeria’s undeveloped and fallow oil and gas fields, with a particular focus on gas assets.
Mr Komolafe said awardees from last year’s licensing round have paid signature bonuses and are in various stages of exploration and development, but noted that new barrels take time to materialise.
“The fact that a licensing round was done last year does not immediately translate into additional barrels,” he said
Licensing rounds have been a key feature of Nigeria’s upstream sector for decades. Major rounds were conducted in 2000, 2005 and 2007, while the 2010s saw smaller, targeted rounds for marginal fields and deepwater assets.
These exercises were designed to attract investors and stimulate production, although some blocks awarded in earlier rounds stalled due to technical, financial or regulatory challenges.
The NUPRC is expected to publish detailed guidelines, including the list of blocks on offer, pre-qualification requirements, and submission timelines, ahead of the licensing round to ensure transparency and clarity for all prospective investors.