NUPRC to host pre-bid conference on 2025 oil, gas licensing round 

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to host the pre-bid conference for the 2025 oil and gas licensing round, as Nigeria positions itself to attract new investments.

Oritsemeyiwa Eyesan, the Commission’s Chief Executive, stated this in a public notice posted on the Commission’s X handle on Friday.

According to Eyesan, the focus areas of the upcoming pre-bid conference include: the implementation timetable, the bid package preparation, eligibility terms, and the assessment and the winners’ determination procedure.

“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is proud to announce the 2025 licensing round pre-bid conference scheduled for 9am Wednesday, January 14, 2026 at the Grand Balroom, Eko Hotels and Suites. Lagos.

“This announcement is sequel to a notice already published by the NUPRC in foreign and local newspapers in line with the Petroleum Industry Act. The focus areas of the upcoming pre-bid conference include: The implementation timetable, the bid package preparation, eligibility terms; ano the assessment and the winners’ determination procedure.

Read also: FG tasks NSCDC on enhanced intelligence, decorates 113 newly promoted commandants

“Interested members of the public are urged to register for the pre-bid conference through the portal br2025.nuprc.gov.ng Detailed information on the licensing round guidelines, block descriptions and participation instructions are also available on the website, nuprc.gov.ng,” she said.

The Federal Government, with the licensing round is offering 50 oil and gas blocks across onshore, swamp/shallow water and offshore terrains spanning diverse basins and also expects to attract about $10 billion in investments through the licensing round.

It is also expected to add up to 2 billion barrels of oil output over the next 10 years with an estimated 400,000 barrels/day of production volumes when the blocks are fully operational.

While the government has taken steps to lower entry barriers by reducing the signature bonus range to between $3 million and $7 million, the regulator is simultaneously imposing a set of compliance and financial standards for bidders.

According to the Commission in an earlier notice, applicants may be disqualified at any time, if it or any of its members are indebted to the Government or has not operated a previously awarded licence or lease vigorously and in a business-like manner in accordance with applicable laws.

It also explained that if an applicant becomes insolvent, has not or does not comply with applicable laws, such may be disqualified.

The exercise according to the NUPRC is open and non discriminatory to both local and foreign companies. It stated that, “A foreign company does not need to register in Nigeria to participate in the bid but the PPL shall only be awarded after such a company has been duly registered under the Companies and Allied Matters Act (CAMA) as stipulated in the PIA.

“All Bidders shall be required to submit a bid within a range of $3 million and $7 million as approved by the Minister of Petroleum for the reduction of entry barriers. Bids submitted below the Prescribed Range shall be deemed non-compliant and shall not be evaluated.”

It also noted that where two or more bidders submit matching highest bids for a block within the prescribed range (“Competing Bids”), such bids shall be subject to a tie-breaking process. “The sole tie-breaking process shall be the submission of a sealed re-bid of the signature bonus, which may be higher than the prescribed range.”

“No bidder, whether participating individually or as a member of any consortium, shall submit applications for more than two (2) assets in total across all applications. Participation in more than one consortium shall count towards this limit.

“For the avoidance of doubt, where a company has equity, direct or indirect ownership, or management involvement in multiple consortium vehicles, all such applications shall be aggregated and treated as a single bidder’s applications,” the Commission stated.

The Commission also set the minimum financial requirement for an entity to participate in the licensing round to include: an average annual turnover of $100 million for deep offshore blocks and $40 million for onshore and shallow water blocks or minimum cash in bank of $100million for deep offshore blocks and $40 for onshore and shallow water blocks or a bank guarantee of same amount.

Also, a newly incorporated company would require a parent company guarantee to the tune of $100 million in deep offshore, $40 million in onshore and shallow water.

Join BusinessDay whatsapp Channel, to stay up to date