NUPRC Announces Winners of 2024 Oil Block Licensing Bid Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially announced the winners of the 2024 oil block licensing bid round, confirming the successful acquisition of 19 oil blocks by 16 companies.

This announcement was made during the licensing round commercial bid conference held in Lagos on Wednesday.

Among the successful bidders, the Sifax and RoyalGate consortium emerged victorious, securing two petroleum prospecting licenses (PPLs), specifically PPL 300-DO and PPL 304-DO. OceanGate Engineering Oil and Gas Ltd also claimed two blocks—PPL 302-DO and PPL 3007—while MRS Oil & Gas secured PPL 303-DO.

Hakilat Oil & Gas Consortium Ltd was awarded PPL 305-DO and PPL 3016, while BISWAL Oil & Gas Ltd won PPL 306-DO and PPL 2002. Additionally, Petroli Energy Marketing and Supply Ltd obtained PPL 269, and Sahara Deepwater Resources Ltd was granted both PPL 270 and PPL 271.

Other winners included Panout Oil & Gas, who secured PPL 300/301 CS and PPL 3015, as well as TotalEnergies E&P, who won PPL 2000/2001. First E&P Development emerged victorious with PPL 2003 and PPL 2006, while Deywayles International Limited obtained PPL 2004. Applefield Oil & Gas, R28 Holdings Ltd, Tulcan Energy E&P, and Broron Energy also emerged as successful bidders for multiple blocks.

The NUPRC also named several reserve bidders, including Nigerian National Petroleum Company E&P Limited, Homeland Integrated Offshore Services Ltd, Afagaf Company Ltd, AMP E&P Company Ltd, RBO Energy Services Ltd, Petroli Energy Marketing and Supply Ltd, and Star Deepwater Petroleum Ltd.

In his remarks during the conference, NUPRC’s Chief Executive Officer, Gbenga Komolafe, revealed that the commission plans to launch another licensing round in 2025, focusing on undeveloped oil fields.

The successful bidders’ acquisition of these oil blocks is expected to have significant implications for the Nigerian oil and gas sector, marking a new phase in exploration and production activities across the country. The NUPRC’s commitment to ensuring the continued development of the sector remains evident as it prepares for future licensing rounds.