Fifty oil and gas blocks are up for auctioning from today as the 2025 licencing round bid portal come alive today. The auction, spanning multiple basins and terrains, is part of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) 2025 petroleum licensing initiative approved by President Bola Tinubu. The licencing round will feature acreage across onshore, shallow water and deep water locations. According to the Commission, the exercise represents a significant push to attract fresh capital into Nigeria’s upstream petroleum sector under the framework established by the Petroleum Industry Act (PIA) 2021. The blocks, the NUPRC revealed, are distributed across several diverse basins, offering potential investors a range of exploration and development opportunities. Comprehensive guidelines, eligibility criteria, and detailed block data will be made available through a dedicated licensing portal when it goes live.  “The Licensing Round is a key component of the Commission’s mandate under the PIA to enhance Nigeria’s upstream development, attract investment, and expand national hydrocarbon reserves,” NUPRC stated.
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