The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched its 2024 licensing round that features 12 oil blocks, combined with 5 deep offshore assets from last year’s round.
Available through January 2025, the acreage on offer includes but is not limited to 6 greenfield oil blocks situated on the continental shelf, 4 deep offshore blocks and 2 onshore blocks in the Niger Delta.
The Commission is seeking to establish an investment-friendly environment by ensuring regulatory certainty and removing barriers to entry within Nigeria’s upstream sector.
Criteria for acquiring these blocks include technical competence, financial capacity and viability.
“The licensing round that we put in place is designed to enhance quality data sets and is going to be conducted in a fair, transparent, and competitive bidding process and in a non-discriminatory manner,” stated NUPRC CEO Gbenga Komolafe.
