The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced 25 winners and 10 reserve bidders, for the 2022/2023, 2024 Nigeria’s Oil Licensing Round According to NUPRC document seen by New Telegraph yesterday, there were six winners for the 2022/2023 deepshore licensing round and four reserved bidders.
The document showed that there were 19 winners and six reserve bidders for the 2024 commercial bid.
The Chief Executive (CCE), NUPRC, Engr. Gbenga Komolafe, who spoke at the Commercial Bid Conference yesterday in Lagos, said the official launch of the 2024 Licensing Round was a bold declaration that Nigeria was ready for business.
He noted that the 2024 licensing round, the first since the implementation of the Petroleum Industry Act (PIA) in August 2021, was a pivotal moment in Nigeria’s energy landscape.
While noting that the Conference would unveil winners of the licensing round, the CCE added that it had set the stage for significant advancements in hydrocarbon development He said:
“This Licensing Round is not merely a commercial exercise; it is a bold declaration that Nigeria is ready for business. The conference aims to transparently unveil the winners of the licensing round while discussing strategies to harness Nigeria’s vast hydrocarbon resources.
“The 2024 Licensing Round, launched in May, represents a significant leap in Nigeria’s hydrocarbon development strategy. The licensing round offers 24 carefully selected blocks spanning onshore, shallow water, and deep offshore terrains.
“Complementing these are the seven deep offshore blocks from the 2022 Mini Bid Round, bringing the total to 31 blocks. These assets cumulatively hold enormous potential for economic growth, energy security and technological advancement.
“With 209 trillion cubic feet of natural gas reserves and over 37 billion barrels of oil reserves, Nigeria is poised to capitalise on its untapped potential.
Key objectives of the licensing round include:. Growing our country’s oil and gas reserves through aggressive exploration and development.
