Oil and gas companies on Tuesday commenced the commercial bidding process for Nigeria’s 2025 licensing round in Abuja, as the NUPRC opened financial bids for eligible investors seeking exploration and production rights across 37 oil and gas assets.

The commission said the commercial evaluation would be based on key bid parameters, including the signature bonus, work programme commitment and commitment to performance security.

143 firms are set to compete for 50 oil blocks in Nigeria's 2025 licensing round. Discover how the NUPRC will evaluate bids for these crucial oil blocks.