Asharami, 30 Others Emerge Winners in Nigeria’s 2025 Oil and Gas Licensing Round

Thirty-one companies have emerged as winners of 37 oil and gas blocks following the commercial bid conference of the 2025 Licensing Round held on Tuesday at the Transcorp Event Center in Abuja.

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, announced the results.

A total of 143 companies submitted 200 bids for 37 out of the 50 blocks originally put on offer. The remaining 13 blocks did not receive bids.

The 37 blocks that attracted bids were drawn from diverse terrains, including:

-Niger Delta Onshore: 16 blocks

-Niger Delta Shallow Water: 18 blocks

-Niger Delta Deep Offshore: 1 block

-Benin Basin Onshore: 3 blocks

-Anambra Basin Onshore: 4 blocks

-Chad Basin Onshore: 4 blocks

-Benue Trough Onshore: 4 blocks

NUPRC noted that this is the first time in Nigeria’s energy history that frontier basins such as the Benue Trough, Chad Basin, Anambra Basin and Benin Basin have attracted such a level of investor interest.

Among the companies that secured blocks are:

SSonic Petroleum Limited (PPL 2A29), CFP Pipeline and Flowlines (2A30), Dutchford E&P Limited (2A32), Attabanson Global Company Limited (2A33 and PPL 901), Rosem Energy Limited (2A38), Pivot-GIS Limited (2A39), Network E&P (2A40), Asharami (2A41), LexOil (2A42), BVOF (2A43), Gupsco Energy Limited (2A44 and 2A51), Saratoga (2A45), Volante (2A46), Concept-Reel Petroleum Services Limited (2A47 and 2A55), Clinton Oil Field (2A48 and 2A62), Nuway Oaklane Limited (2A49), Ramec (2A50), Italia (2A53), Blueridge E&P (2A54), Up Energies Limited (2A56), AYM Shafa (2A57), Blackrock Holdings Limited (2A58), Funtay Integrated Business Limited (2A59), Riparian Development and Production Limited (2A60), Nikstallis (2A61 and PPL 900), Stardeep Petroleum (PPL 2010), Dakoda & U Limited (PPL308 and PPL 800), Southborne Oil and Gas Limited (PPL 902), Lanaka Petroleum (PPL 903), Highban Resources Limited (PPL 700), and Eyre Energy Limited (PPL 801).

In her remarks, NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, said the companies will be presented with final awards after payment of the appropriate signature bonus and approval by the Minister of Petroleum Resources, in line with the Petroleum Industry Act, 2021.

She thanked President Bola Tinubu for supporting the Commission to deliver a seamless licensing round.

Eyesan congratulated the winners and urged them to pay their signature bonuses promptly and to develop the assets.

She noted that the Commission will enforce the “drill or drop” provision, which requires license holders to develop the blocks or risk forfeiture.

The commercial bid conference was monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industry and Transparency Initiative, NEITI, and other stakeholders in line with extant laws.