Nigerian Upstream Petroleum Regulatory Commission to Release 220 Oil Blocks Including 59 Deep Offshore for Bidding
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to award 220 open oil blocks across Nigeria’s onshore and offshore basins after completing periodic bid rounds and meeting necessary conditions.
According to NUPRC data, the largest share of unlicensed blocks is in the deep offshore terrain, with 59 blocks available. The Benue Trough follows with 41 open blocks, and the Chad Basin has 40.
Other regions include the Sokoto Basin with 28 blocks, the Bida Basin with 16, the offshore Niger Delta with seven, the Anambra Basin with 13, and both the Benin Basin and onshore Niger Delta with eight blocks each.
NUPRC clarified that these 220 blocks are not abandoned assets but are awaiting concession under Section 7(t) of the Petroleum Industry Act 2021.
This section empowers the commission to conduct periodic licensing rounds and award blocks to successful bidders.
The commission reaffirmed its commitment to transferring these 220 blocks, including the 59 deep offshore blocks, to qualified investors once the competitive bidding process concludes.
This initiative is expected to stimulate investment in Nigeria’s upstream oil sector and accelerate hydrocarbon exploration and production nationwide.
