…As Race for 50 Oil and Gas Blocks Begins
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has invited qualified companies to the highly anticipated commercial Bid Conference slated for July 21, 2026.
These companies which scaled through the transparent and rigorous process have been notified and are expected to physically attend the Commercial Bid Conference taking place at the Conference Center, Transcorp Hilton Hotel, Abuja. Attendance is strictly by invitation, Eniola Akinkuotu, Head, Media and Corporate Communications said in a statement.
On offer are 50 oil and gas blocks across diverse terrains. The Niger Delta Onshore (16), Niger Delta Shallow Water (18), Niger Delta Deep Offshore (1), Benin Basin Onshore (3), Anambra Basin Onshore (4), Chad Basin Onshore (4) and Benue Trough (4).
In line with the guidelines, the elements of bid parameters include: the signature bonus, the work programme commitment and commitment to performance security culminating in a weighted technical and commercial score which will determine a winning bid, the statement added.
The 2025 Licensing Round was first announced on November 11, 2025 and advertised widely in line with the Petroleum Industry Act, 2021.
The bid portal was launched on December 1, 2025 for Registration and a Pre-Bid Conference followed on January 14, 2026 at Eko Hotels and Suites, Lagos.
The Pre-Bid Conference served as an opportunity to educate registered bidders and other interested members of the public about the guidelines of the exercise.
The registration and submission for prequalification evaluation closed on February 27, 2026 while the prequalification stage was completed on March 16, 2026.
A total of 286 companies made submissions for prequalification out of which 196 were prequalified to participate in the technical and commercial bid phase. Consequently, 143 companies submitted 200 bids.
These 143 companies are expected to take part in the commercial bid conference on July 21, 2026.
