The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) convened a high-level pre-bid conference on Wednesday in Lagos, bringing together prospective investors, oil and gas operators, and other key stakeholders to discuss the modalities of the 2025 Oil Licensing Round.
The exercise involves 50 oil and gas blocks currently on offer and is part of Nigeria’s broader strategy to attract investment and accelerate upstream production.
Chief Executive of NUPRC, Oritsemeyiwa Eyesan, said the conference was designed to clarify expectations and highlight reforms aimed at making the sector more accessible.
Among the key announcements was a reduction in entry costs for bidders, including a revision of the signature bonus and other pre-first oil fees.
The changes are part of ongoing reforms under the Petroleum Industry Act (PIA) to attract capable operators and boost domestic and foreign investment.
“The commission has made significant progress in recent years, enabled largely by the PIA,” Eyesan said.
“Many of the assets on offer today are recovered fallow fields, and the PIA ensures that blocks not actively developed can be reassigned to serious operators.
”We are now witnessing the benefits of these reforms, ” she added.
She emphasised that lessons from previous licensing rounds had informed the 2025 process, with a renewed focus on attracting technically competent investors.
“We have taken into account feedback from prior rounds and are seeking operators who can deliver on production and development objectives,” she added.
On gas development, Eyesan said government incentives were beginning to yield results, with several Final Investment Decisions (FIDs) already taken.
She noted that the incentives would positively influence bidding outcomes and support Nigeria’s ambition to become a preferred destination for energy investment.
“The industry is showing that we are moving toward becoming the investment destination of choice, with indigenous companies increasingly participating as producers,” Eyesan stated.
She also stressed the commission’s commitment to creating a sustainable ecosystem that supports investors, service providers, and financiers alike.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who also addressed the conference, said the licensing process is built on a framework of transparency and accountability.
“These assets are not status symbols.
“Licenses are granted for specific timeframes and must be actively developed.
”Those who hold blocks without developing them for decades will no longer be allowed to continue, ” he said.
Senator Eteng Williams, Chairman of the Senate Committee on Upstream, offered legislative support for the exercise, urging all parties to ensure that projects contribute meaningfully to Nigeria’s production goals.
In a separate engagement with operators, Eyesan outlined NUPRC’s strategic agenda for the upstream sector, anchored on three pillars: production optimisation and revenue expansion; regulatory predictability and speed; and safe, governed, and sustainable operations.
She tied the agenda to President Bola Tinubu’s Renewed Hope Initiative, which targets 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030.
Key measures include the recovery of shut-in volumes, accelerated time-to-first oil, and improved governance in host communities.
Eyesan announced plans to publish Service Level Agreements (SLAs) for all major regulatory approvals and to introduce a digital platform for permitting, reporting, and data submissions.
She also disclosed the launch of a monthly “CCE–Operators Leadership Forum” to track approvals, production restoration, infrastructure integrity, and gas development.
“The commission will enhance hydrocarbon accounting, monitor every barrel produced, and ensure discrepancies are promptly addressed,” Eyesan said.
She further urged operators to engage proactively with host community leaders to implement the Host Community Development Trust (HCDT) framework.
Eyesan also revealed that a 90-day fast-track programme had already begun to approve near-ready field development plans (FDPs), well interventions, rig mobilisations, and other opportunities to accelerate production.
