Nigeria Awards 37 Oil Blocks to 31 Firms as Frontier Basins Attract Investors
Nigeria has awarded 37 oil and gas blocks to 31 companies as the country seeks to attract investment, increase exploration and strengthen its petroleum reserves.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said 143 companies submitted 200 bids for the 37 blocks during the 2025 licensing round.
The awarded assets include 16 blocks in the Niger Delta onshore, 18 in shallow waters and one in deep offshore areas. Other blocks are located in the Benin, Anambra, Chad and Benue basins.
NUPRC said the strong interest in frontier basins was significant, with the areas attracting unprecedented investor attention during the licensing round.
The awarded blocks could potentially add about 500 million barrels to Nigeria’s crude oil and condensate reserves as exploration and development progress.
However, successful bidders must pay signature bonuses and meet other post-award requirements before receiving final approval from the Minister of Petroleum Resources.
The licensing round forms part of Nigeria’s efforts to revive upstream investment, expand exploration and offset declining production from mature assets, particularly in the Niger Delta.
