TotalEnergies Exploration and Production Company, MRS Oil and Gas Limited, Sahara Deepwater Resources Limited, and 20 other companies have emerged as bidders for newly available oil blocks in Nigeria.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the bidders for 25 oil blocks available for exploration and production during the 2022/23 Mini Bid and Nigeria 2024 Licensing Round Commercial Bid Conference held in Lagos.
A total of 31 oil blocks were offered during the round, with bids received for 25 blocks while six were returned to the pool, according to NUPRC Chief Executive Engr. Gbenga Komolafe.
He explained that the bidding process adhered to Section 7(t) of the Petroleum Industry Act (PIA), which mandates periodic bidding rounds for awarding Petroleum Prospecting Licenses (PPLs) and Petroleum Mining Leases (PMLs).
At the conclusion of the exercise:
- 25 winners emerged as bidders.
- 10 additional bidders were designated as reserves.
Key bidders for the 2022/23 round included:
- SIFAX & OceanGate: PPL 300-DO.
- Ocean Gate Engineering Oil and Gas Ltd: PPL 302-DO, PPL 3007.
- Hakilat Oil & Gas Consortium Ltd: PPL 305-DO, defeating NNPC E&P.
- MRS Oil & Gas: PPL 303-DO, after a tie-breaking victory over NNPC E&P.
- Sahara Deepwater Resources Ltd: PPL 270, PPL 271.
- TotalEnergies E&P: PPL 2000/2001.
- Applefield Oil & Gas: PPL 2005, PPL 3017.
- Tulcan Energy E&P: PPL 2008, PPL 3012.
- R28 Holdings Ltd: PPL 2007, PPL 3011.
Other winners include Petroli Energy Marketing and Supply Ltd, First E&P, Broron Energy, and Deywayles International Limited.
Engr. Komolafe emphasized that the assets represent a substantial opportunity for economic growth, energy security, and job creation.
Highlighting the significance of transparency in the process, he declared, “This is the best in the nation’s history. We have set a standard that we will continue to improve.”
The NUPRC also unveiled plans for a 2025 licensing round, focusing on underexplored assets, fallow fields, and natural gas development.
The upcoming round will feature 24 newly identified blocks alongside idle assets recovered under the “drill or drop” policy, as stipulated by the PIA.
The licensing rounds will become an annual event aimed at addressing production declines and strengthening Nigeria’s competitiveness in the global market. Komolafe said, “The Petroleum Industry Act offers us a unique opportunity to attract investments and position Nigeria as a global leader in the energy sector.”
Following the bidding process, the next steps include:
- Block allocation and awards.
- Payment of signature bonuses.
- Initiation of exploration and production activities.
- Implementation of environmental stewardship measures.
Komolafe stressed Nigeria’s readiness to aggressively pursue exploration and development, bolstered by the PIA’s favorable fiscal provisions.
He reaffirmed the government’s commitment to aligning the oil and gas sector with the United Nations Sustainable Development Goals (SDGs).
Nigeria’s proactive approach in licensing rounds and resource development reflects its intent to secure its position as a leader in the global energy transition.
