The winners emerged at the commercial bid conference held on Tuesday at the Transcorp Event Centre, Abuja, marking the conclusion of the competitive phase of the licensing exercise.

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.