The successful bidders in the 2025 Licensing Round have been warned by Nigerian Upstream Petroleum Regulatory Commission (NUPRC) that they have not more than 90 days to fulfil all post-award conditions. Failure to meet these conditions will result to the forfeiture of their allocated oil and gas assets.

On the event of the Commercial Bid Conference for the Nigeria 2025 Licensing Round in Abuja, held on Monday, July 20, 2026, the Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, during her opening remarks further stated that only investors with the financial capacity and technical competence to develop the assets would retain their licenses. Therefore, there would be no room for speculative holders of petroleum acreage.

Mrs Oritsemeyiwa Eyesan emphasized that the announcement of successful bidders at the commercial bid conference does not mean automatic grant of Petroleum Prospecting Licenses (PPLs), hence, all statutory requirements must be satisfied by winners before licenses would be issued.

“Successful bidders should also note that today’s announcement does not, by itself, constitute the final grant of a Petroleum Prospecting License. Each winning bidder must satisfy the post-bid conditions prescribed in the Guidelines, including the provision of the applicable guarantees, payment of the signature bonus and first-year rent, and execution of the relevant contractual documents,” she said.

The Commission Chief Executive further noted that any successful bidder failing to fulfill the specified conditions within the allotted timeframe will have their award revoked.

“A winning bidder that fails to fulfil the prescribed conditions within 90 days of receiving its offer letter will lose its entitlement to the asset. The Commission may thereafter invite the reserve bidders, in their order of ranking, to fulfil the conditions of the award,” she said.

Mrs. Oritsemeyiwa Eyesan reiterated that the Federal Government intends to ensure prompt development of awarded assets, aims which are vital for accelerating oil production, boosting national reserves, and maximizing public revenue.

“The Government is not seeking speculative holders of acreage; it is seeking partners with the capacity, discipline and commitment to deliver measurable production and economic value,” she stated.

Furthermore, she cautioned that successful bidders must transition from mere legal ownership to active financial commitment in exploration and field development.

“To the bidders who will emerge successful today, an award is not a trophy to be held. It is an obligation to invest, drill, develop and produce. Our message is therefore clear: drill or drop. Work programmes must be implemented, financial commitments must be honoured and agreed milestones must be achieved,” Mrs. Oritsemeyiwa Eyesan said.

The Commission Chief Executive assured investors of a transparent and stable operational framework to ease project execution, while reiterating that operators must strictly adhere to their development obligations.

“The Commission will support credible operators through clear guidance, predictable regulatory decisions and timely intervention where genuine obstacles arise. In return, we expect performance. Acreage cannot remain inactive while Nigeria’s production, revenue and energy-security objectives are deferred,” she added.

She noted that the licensing round's true success won't be measured by the number of winners, but by how fast the awarded assets move from exploration to actual production.

According to her, “The true measure of the success of this Licensing Round will not be the number of winning bidders announced today. It will be the speed with which the awards move from paper to seismic acquisition, from seismic to drilling, from drilling to development and, ultimately, from development to production.”

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Mrs. Oritsemeyiwa Eyesan has disclosed that about 300 companies expressed interest in the recently concluded licensing round for 50 oil and gas assets, underscoring strong investor appetite for opportunities in Nigeria’s upstream petroleum sector.

Providing an overview of the exercise, the Commission Chief Executive, Mrs. Eyesan, said 196 companies successfully scaled the prequalification stage, while 143 firms submitted a total of 200 technical and commercial bids covering 37 assets.

“The level of participation reflected growing investor confidence in Nigeria’s upstream petroleum sector and the reforms introduced by the Federal Government,” she said.

She stated that the exercise attracted a mix of new entrants alongside established indigenous and international operators, relating the outcome as further evidence that Nigeria remains an attractive destination for oil and gas investments.

Mrs. Oritsemeyiwa Eyesan stated that the Nigerian Extractive Industries Transparency Initiative (NEITI) monitored critical stages of the exercise to enhance transparency and strengthen public confidence, and the licensing round was conducted transparently in line with President Bola Tinubu’s directive that the process should conform to international best practices.

The Commission Chief Executive further revealed that the assets offered during the licensing round have the potential to add about 500 million barrels to Nigeria’s crude oil and condensate reserves, which currently stand at 37.01 billion barrels. She added that the development of the fields would also increase the country’s gas reserves, estimated at 215.19 trillion cubic feet.

According to her projection, when the fields are fully developed, it has the capacity to deliver at least 300,000 barrels of crude oil and condensate daily over the next three years, contributing significantly to the Federal Government’s goal of raising national oil production to three million barrels per day by 2030.

She said the benefits of developing the assets extend beyond higher crude production, noting that the projects would boost government revenue, improve foreign exchange earnings, create employment opportunities, deepen local content, promote technology transfer and stimulate broader economic growth.

Addressing unsuccessful bidders, Mrs. Oritsemeyiwa Eyesan assured them that fresh opportunities would soon be available, disclosing that President Tinubu had approved the commencement of the 2026 licensing round.

Eyesan reiterated the Commission's commitment to conducting transparent and competitive licensing rounds on a regular basis to sustain exploration activities, expand Nigeria's hydrocarbon reserves and reinforce investor confidence in the nation's upstream petroleum industry.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commended ExxonMobil and its partners for committing $1 billion to the on-block activities for the Usan Infill Project in OML 138.

The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, gave the commendation at the 25th NOG Energy Week Conference and Exhibition on Wednesday, July 8, 2026.

The Managing Director of ExxonMobil affiliates in Nigeria, Jagir Baxi, had announced the investment commitment at the venue which is expected to add 40,000 barrels per day.

Reacting, Eyesan said the announcement was particularly significant because Esso Exploration and Production Nigeria –ExxonMobil’s affiliate – had not undertaken any drilling operation since 2016.

 “With Esso’s last drilling operation dating back to 2016, the resumption of drilling signals renewed potential and value in our deep water acreage,” the NUPRC boss said.

Eyesan said the NUPRC remains steadfast in advancing Nigeria’s portfolio of deep water projects, adding that such developments are essential to achieving national production targets, increasing reserves, sustaining government revenues, and bolstering investor confidence.

In his remarks earlier, the ExxonMobil Nigeria boss, Baxir, praised the NUPRC and other government agencies for their role in facilitating the project.

Esso Exploration and Production is the operator of OML 138, which contains the Usan field. The block is operated under a Production Sharing Contract with NNPC Limited. Co-venture partners in OML 138 include Chevron, TotalEnergies, and Nexen, a wholly owned subsidiary of CNOOC. 

As a short-cycle investment, the project is expected to sustain and increase production from the Usan field, with first production within 18 months after the seismic data identified the investment opportunity. 

In a related development, the NUPRC on Wednesday 8, July 2026, presented Petroleum Prospecting Licenses (PPLs) arising from the successful conclusion of the 2022/2023 Mini Bid Round and the Nigeria 2024 Licensing Round.

Some of the companies that were presented with their awards at the venue include: Broron Energy Limited (PPL 2009), Petroli Energy Marketing and Supply Limited (PPL 269), Sahara Deepwater Resources Limited (PPL 270 and PPL 271) and Tulcan Energy E&P Co (PPL 2008).

Companies whose representatives were not present will have their execution ceremonies scheduled shortly at mutually convenient dates.

In total, the exercise covers 12 successful awardees across 19 Petroleum Prospecting Licenses, comprising a balanced portfolio of deep offshore, shallow water and continental shelf acreages, reflecting the diversity of opportunities offered through the licensing rounds.

According to the NUPRC, the awards represent another significant milestone in Nigeria’s continuing efforts to deepen investment in the upstream petroleum sector, accelerate exploration activities, expand the nation’s hydrocarbon reserves, and create long-term value for the Nigerian economy.

Sen. Ekperike Ekpo (left), Governor Siminalayi Fubara (center) and Mrs. Oritsemeyiwa Eyesan (right) at Bille Community

In his remarks, Governor Siminalayi Fubara, commended the collaborative response of the government, assuring the community that their concerns would receive urgent attention.

"The Federal Government is doing everything possible to ensure that the gas seepage is brought under control. The requests for potable water, healthcare and firefighting support have been noted and will be addressed,” Governor Fubara said.

The governor further directed an immediate upgrade of the primary healthcare facility in the community to meet medical emergencies resulting from the gas seepage. The delegation subsequently proceeded to Bille community, where relief items were delivered. They also promised to provide potable water, intensive medical outreach and consumables, additional firefighting equipment and support for power supply, while reaffirming the commitment of the Federal Government and the industry to restoring environmental safety and protecting the welfare of affected residents.

NUPRC delegates visits the Amanyanabo of Bille Kingdom HRM Ingo Herbert

Speaking at the place of the Amanyanabo of Bille Kingdom, HRM Ingo Herbert, the minister said, “Investigation into the root cause is ongoing, and the Federal Government is fully committed to resolving the issue. We will ensure the environment is safe and properly remediated. We are with you on this.”

In her remarks, the NUPRC Chief Executive, Mrs. Eyesan, reaffirmed the Commission's determination to identifying the source of the seepage through a scientifically comprehensive investigation while ensuring that emergency humanitarian needs are addressed without delay.

"We have carried out preliminary investigations. However, we are carefully managing the situation to prevent further hazards before any intervention. We have engaged an international firm to undertake the final studies, with fieldwork expected to commence before the end of July," she said.

While commending the residents for their understanding, the NUPRC boss disclosed that technical experts from across the oil and gas sector are working jointly with the Commission to resolve the crisis. She assured the community that the Commission would provide regular updates on the investigation.

On immediate relief measures, the CCE said, "Our assessment indicates that the first aquifer has been contaminated, and while we work towards a sustainable long-term solution, we will provide potable water as quickly as possible.”

While seeking a quick solution to the seepage, the Chairman, Bille Council of Chiefs, Alabo Okpokia Dokubo, asked the government to fulfil its promises quickly so the community could fully reap the benefits of its oil and gas resources.

Promising oil and gas deposits have been found in Plateau State following five years of intensive geological research and exploration, which might be a major turning point in Nigeria's efforts to increase its energy resources outside of its conventional oil-producing regions.

Industry experts, government officials, and investors are excited about the discovery because they believe it has the potential to change the state's economic future and boost the nation's energy sector.

A Major Discovery Following Years of Study

In order to ascertain the state's hydrocarbon potential, a thorough five-year research that included geological surveys, seismic studies, and scientific analysis produced the discovery.

Positive evidence indicating the existence of commercially viable natural gas and oil resources was discovered by researchers. The results have been described as extremely promising, but further investigation and evaluation will be necessary before full-scale production can start.
According to the report, Plateau State is one of Nigeria's new oil and gas exploration frontiers, creating new opportunities for development and investment.

Plateau State's Repercussions

Plateau State may benefit greatly from the finding if the minerals turn out to be commercially viable.
Potential benefits consist of:

• A rise in funding for the energy industry
• The generation of jobs for nearby towns
• Better economic growth and infrastructure
• Increased tax and royalty revenue for the government
• The expansion of related enterprises and industries
Successful exploration may draw both domestic and foreign investors eager to get involved in the state's developing energy sector in addition to the immediate financial gains.

Nigeria's Energy Landscape Diversification

Nigeria's oil output has been mostly centered on the Niger Delta for many years. Reducing reliance on a single producing region and diversifying exploratory efforts could be facilitated by discoveries made in other regions of the nation.
Expanding oil and gas exploration into new locations may help boost the country's energy security while offering additional chances for regional economic growth.
Discoveries like as these, according to industry experts, highlight the significance of sustained investment in geological research and contemporary exploration methods.

There are still obstacles to overcome.

 
Experts warn that locating oil and gas resources is just the first step, despite the positive results.
To ascertain whether the reserves can be produced commercially, more exploration, environmental studies, regulatory permissions, and a sizable expenditure will be necessary before production can start.
Additionally, it will be crucial to ensure that exploration activities are conducted ethically in order to safeguard the environment and local residents.

Focusing on the Future

The discovery has raised hopes for Nigeria's overall energy future as well as the economic possibilities of Plateau State. The state may play a significant role in the nation's oil and gas sector if further research verifies the deposits' commercial feasibility.

For the time being, the five-year study is a promising start that may lead to new investment, employment, and sustainable development opportunities.
All eyes will be on Plateau State as exploration advances into the next stage to see if this fascinating discovery becomes Nigeria's next big energy success story.