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FG Sets June 12 Deadline for Oil Block Bids
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has set Friday, June 12, 2026, as the deadline for submission of technical and commercial bids in the ongoing 2025 Licensing Round.
In a notice posted on its official X handle, the commission said “Submission of Technical and Commercial Bids by Prequalified Applicants for the 2025 Licensing Round closes on Friday, June 12, 2026, at 16:30 hours (WAT) in line with the 2025 Licensing Round Guidelines.”
The announcement marks a critical phase in the licensing exercise, as investors compete for opportunities in Nigeria’s upstream sector amid government efforts to attract capital and boost hydrocarbon production.
The 2025 Licensing Round, launched in December, offered 50 oil and gas blocks—including 15 onshore, 19 shallow-water, 15 frontier, and one deep-water block—with a target of attracting about $10bn in investment.
NUPRC projects that the round could unlock 2 billion barrels of oil over the next decade and potentially add 400,000 barrels per day when fully developed.
Prequalification was completed in March, with successful applicants notified. The commission confirmed preparations are also underway for the 2026 Licensing Round, which has secured ministerial approval and will commence by Q3 2026.
NUPRC Chief Executive Oritsemeyiwa Eyesan said the regulator is determined to institutionalise annual licensing rounds under the Petroleum Industry Act, ensuring transparency and competitiveness in asset allocation.
The successful completion of the bid stage will pave the way for awarding oil blocks, reinforcing Nigeria’s strategy to deepen exploration, expand reserves, and sustain investor confidence in its energy sector.