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Tag: NUPRC

  • Nigeria’s daily average gas production hits 7.59bscf

    Nigeria’s daily average gas production hits 7.59bscf

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria gas flaring has fallen to 7.16 per cent in July 2025, while daily gas production rose to 7.59 billion standard cubic feet per day (BSCFD).

    The NUPRC, in its Gas Production Status Report for July 2025, released on Saturday said this marked an 8.58 per cent increase compared to the 6.99 BSCFD recorded in the full year of 2024.

    According to the report, the simultaneous growth in output and decline in flaring underscores the Commission’s drive to boost production while advancing its 2030 zero-flare commitment.

    The report stated that Nigeria’s gas industry had sustained steady growth over the past three years, with daily average production hitting 7.59 BSCFD in July 2025.

    “The 7.59 BSCFD daily average also represents a 9.84 per cent increase from the 6.91 BSCFD posted in the full year of 2023, which shows a sustained rise in gas production,” it said.

    It said in spite of an increase in production, there was a continued reduction in gas flaring.

    This, it said fell to 7.16 per cent in July 2025, down from 7.55 per cent in 2024 and 7.38 per cent in the corresponding period of 2023.

    It sated that the reduction in gas flare was recorded in spite of the steady increase in gas production which reflected the Commission’s commitment to end routine gas flaring by 2030.

    “The Commission has embarked on gas reduction programmes like the Nigerian Gas Flare Commercialisation Programme (NGFCP).

    “Other initiatives include developing a Decarbonisation and Sustainability Blueprint, promoting Carbon Capture and Storage (CCS), and integrating sustainability into project planning through the Upstream Petroleum Decarbonisation Template (UPDT).

    “In terms of Domestic Gas Delivery Obligation (DGDO) performance, the sector delivered 72.5 per cent in July 2025, up from 71.8 per cent in June,” the report said.

    Data from the Commission further showed that DGDO performance stood at 72.2 per cent in January.

    It revealed that it rose to 73.5 per cent in February, dipped slightly to 70.8 per cent in March, before climbing again to 73.7 per cent and 73.0 per cent in April and May, respectively.

    On gas production by contract type, it said 63 per cent of output during the review period came from Marginal Sole Risk (formerly Marginal Fields), while Production Sharing Contracts (PSCs) accounted for 24 per cent.

    “Joint Venture (JV) contracts contributed 10 per cent, and Sole Risk (SR) operators delivered the remaining three per cent.

    “Gas utilisation data shows that, year-to-date as of July 2025, 35.88 per cent of production was channelled to export sales, 27.82 per cent was supplied to the domestic market, while 29.13 per cent was utilised for field and plant operations (own use).

    “Companies deployed gas mainly for in-house purposes such as fuel, gas lifting, and reinjection for pressure maintenance,” it stated.

    It further stated that Gas-to-Power supply hit its strongest level in three months, with average daily deliveries rising by 3.48 per cent month-on-month, from 833.86mmscf/d in June to 862.86mmscf/d in July 2025, the highest in three months.

    “Over the first seven months of the year, Gas-to-Power supply stood at 780.23mmscf/d in January, increased to 849.37mmscf/d in February, and rose further to 886.83mmscf/d and 886.7 in March and April, respectively.

    “The daily averages for May, June, and July were 837.64 MMSCF/D, 833.86 MMSCF/D, and 862.86 MMSCF/D, respectively,’ it said.

  • Nigeria’s Gas production hits daily average of 7.59bscf – NUPRC

    Nigeria’s Gas production hits daily average of 7.59bscf – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria gas flaring has fallen to 7.16 per cent in July 2025, while daily gas production rose to 7.59 billion standard cubic feet per day (BSCFD).

    The NUPRC, in its Gas Production Status Report for July 2025, released on Saturday said this marked an 8.58 per cent increase compared to the 6.99 BSCFD recorded in the full year of 2024.

    According to the report, the simultaneous growth in output and decline in flaring underscores the Commission’s drive to boost production while advancing its 2030 zero-flare commitment.

    The report stated that Nigeria’s gas industry had sustained steady growth over the past three years, with daily average production hitting 7.59 BSCFD in July 2025.

    “The 7.59 BSCFD daily average also represents a 9.84 per cent increase from the 6.91 BSCFD posted in the full year of 2023, which shows a sustained rise in gas production,” it said.

    It said in spite of an increase in production, there was a continued reduction in gas flaring.

    This, it said fell to 7.16 per cent in July 2025, down from 7.55 per cent in 2024 and 7.38 per cent in the corresponding period of 2023.

    It sated that the reduction in gas flare was recorded in spite of the steady increase in gas production which reflected the Commission’s commitment to end routine gas flaring by 2030.

    “The Commission has embarked on gas reduction programmes like the Nigerian Gas Flare Commercialisation Programme (NGFCP).

    “Other initiatives include developing a Decarbonisation and Sustainability Blueprint, promoting Carbon Capture and Storage (CCS), and integrating sustainability into project planning through the Upstream Petroleum Decarbonisation Template (UPDT).

    “In terms of Domestic Gas Delivery Obligation (DGDO) performance, the sector delivered 72.5 per cent in July 2025, up from 71.8 per cent in June,” the report said.

    Data from the Commission further showed that DGDO performance stood at 72.2 per cent in January.

    It revealed that it rose to 73.5 per cent in February, dipped slightly to 70.8 per cent in March, before climbing again to 73.7 per cent and 73.0 per cent in April and May, respectively.

    On gas production by contract type, it said 63 per cent of output during the review period came from Marginal Sole Risk (formerly Marginal Fields), while Production Sharing Contracts (PSCs) accounted for 24 per cent.

    “Joint Venture (JV) contracts contributed 10 per cent, and Sole Risk (SR) operators delivered the remaining three per cent.

    “Gas utilisation data shows that, year-to-date as of July 2025, 35.88 per cent of production was channelled to export sales, 27.82 per cent was supplied to the domestic market, while 29.13 per cent was utilised for field and plant operations (own use).

    “Companies deployed gas mainly for in-house purposes such as fuel, gas lifting, and reinjection for pressure maintenance,” it stated.

    It further stated that Gas-to-Power supply hit its strongest level in three months, with average daily deliveries rising by 3.48 per cent month-on-month, from 833.86mmscf/d in June to 862.86mmscf/d in July 2025, the highest in three months.

    “Over the first seven months of the year, Gas-to-Power supply stood at 780.23mmscf/d in January, increased to 849.37mmscf/d in February, and rose further to 886.83mmscf/d and 886.7 in March and April, respectively.

    “The daily averages for May, June, and July were 837.64 MMSCF/D, 833.86 MMSCF/D, and 862.86 MMSCF/D, respectively,’ it said.

  • Nigeria’s 5.13bn oil barrels, 13.53tcf gas untapped in deepwater – NUPRC

    Nigeria’s 5.13bn oil barrels, 13.53tcf gas untapped in deepwater – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that its data show that there are over 5.13 billion barrels of oil and 13.53 trillion cubic feet (tcf) of gas still sitting untapped in the deepwater acreages.

    TheNewsGuru.com (TNG) reports NUPRC Chief Executive, Engr. Gbenga Komolafe made this known in Abuja at a stakeholders’ workshop on deep/shallow water cluster/nodal development.

    The initiative, which is being championed by the NUPRC, is part of a broader effort to revive Nigeria’s offshore oil production, which has suffered a decline in recent years.

    The workshop had as its theme, “Harnessing the potential of deep/shallow water, oil and gas accumulations through clusters/nodal development in Nigeria”.

    Komolafe said the federal government has mapped out plans to ensure an increase of about 810,000 barrels per day (bpd) of crude oil from the country’s deepwater oil fields through a new cluster and nodal development initiative.

    Represented by Mr Babajide Fashina, Executive Commissioner, Economic Regulation and Strategic Planning, the NUPRC Chief Executive said if fully implemented, the additional output could raise Nigeria’s total monthly crude production by 2.51 mbpd with condensates.

    This, he said would significantly strengthen the country’s revenue generation capacity and improve compliance with OPEC+ production quotas.

    He said the plan was conceived in response to the industry’s dwindling offshore output and the need to harness untapped reserves for sustainable growth.

    “At the peak of our deep water oil production in 2016, Nigeria was producing about 800,000bpd. Sadly, that figure has now dropped to below 500,000 bpd,” he said.

    While explaining that its data showed that there are over 5.13 billion barrels of oil and 13.53 trillion cubic feet (tcf) of gas still sitting untapped in the deep water acreages, the Chief Executive, said of this, 3.59 billion barrels fell under 2P reserves, meaning that they were proven and probable but yet undeveloped.

    “A preliminary regulatory deep-dive through the Field Development Plans (FDPs) approvals indicates that current developments-in-view could unlock around 1.55 billion barrels of oil and condensate and another 1.49 tcf of associated gas.

    “Once these approved FDPs are executed, we could see peak oil production rise by as much as 810,000 barrels of oil per day.

    “A new Shallow and Deep Water Cluster Development Committee was inaugurated within the NUPRC to work closely with International Oil Companies (IOCs) and indigenous producers to identify and mature these opportunities.

    “Through this collaborative approach, we want to maximise returns from existing assets, ramp up volumes, and reduce unit technical costs,” he said.

    Komolafe expressed dissatisfaction that in spite of the huge potential, the deep water fields were underutilised due to challenges such as funding gaps, infrastructure limitations, regulatory bottlenecks and delayed project sanctions.

    He said the eight Floating Production Storage and Offloading (FPSOs) units, were grossly underutilised, adding that with collaboration, more would be achieved.

    The CCE added that deep offshore reserves currently account for 18 per cent of Nigeria’s total oil and condensate reserves, with major discoveries such as Bonga, Agbami, Egina, and Erha fields leading the way.

    He said that currently the country had cumulatively produced over 4.4 billion barrels from deep water operations with contributory efforts from Shell, ExxonMobil, TotalEnergies, Agip and Chevron.

    Komolafe, however, urged operators to embrace its collaborative model and commit to delivering results that would drive energy security, economic stability, and prosperity for all stakeholders.

    The Executive Commissioner for Development and Production at NUPRC, Enorense Amadasu, said unlocking the production would rely on executing already-approved FDPs and adopting new cost-saving frameworks.

    Amadasu, in a presentation said execution of the approved development plans in deep offshore fields was expected to bring in an additional 810,000 bpd.

    “This is not just theoretical. We already have projects like Bonga North that have taken Final Investment Decisions, and several more like the Owowo, Zaba Zaba, Eta, NAE, and others, are in view,” he said.

    He said that multiple challenges including high technology costs, uneconomic standalone developments, and delays in Final Investment Decisions have slowed progress.

    “We have identified over 20 key deep water assets such as Owowo, Nsiko, Bolia, Aparo, Bonga South West, Doro, Sheki, Akpo West, and others. While some may lack scale individually, they can become viable if developed together,” he said.

    On government incentives, Amadasu cited ongoing interventions, including zero hydrocarbon tax on deep water fields under the Petroleum Industry Act, as well as Presidential Directives 40, 41 and 42.

    These directives, he said would address the issue of tax incentives for non-associated gas, accelerate local content compliance and cost reductions in contracting cycles.

  • Host community trusts receive N97b, $149m development fund – NUPRC

    Host community trusts receive N97b, $149m development fund – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said  about 102 Host Community Development Trusts (HCDTs) have received N97 billion and 149 million dollars as HCDT fund remitted by settlors.

    Mrs Chidinma Nwabueze, Senior Manager, Health, Safety, Environment and Community, NUPRC, disclosed this on Wednesday in Abuja at a Media Workshop, organised by the commission.

    Nwabueze said that the commission facilitated the remittances of N97 billion and 149 million dollars into the HCDTs fund account as at May 19.

    The Petroleum Industry Act (PIA) requires oil exploration companies/settlors to allocate three per cent of their Operating Expenditure (OPEX) of previous year for their host communities’ development.

    Nwabueze said that the HCDT was incorporated and funded by the Settlors (Licencees) from the three per cent of the OPEX of the annual expenses from the preceding year.

    “Currently, about 102 HCDTs have received in excess of N97 billion and 149 million dollars as HCDT fund remitted by Settlors into the HCDT fund account.

    “Within three years a lot of the HCDTs are completing projects.

    “Last week we were in Bayelsa to commission 67 projects from Renaissance Energy Company Ltd., and in Rivers State to commission some other projects,” she said. .

    She said that the commission had also been able to approve 167 applications fully issued as approval to incorporate.

    “Out of these, we have 146 fully incorporated HCDTs at the Corporate Affairs Commission (CAC) while 21 are under processing.

    Out of 146 fully incorporated HCDTs we have over 102 HCDTs account opened and funded to the tune of N97 billion and 149 million dollars,’’ she said.

    Nwabueze said that the HCDT aligned completely with the objective of the NUPRC by promoting sustainable development of the upstream petroleum responses in Nigeria for sheer prosperity within host communities.

    She said that it entrenched direct social and economic benefits from the petroleum operations to the communities, providing a framework for the establishment of peace between the dwellers and the Settlors.

    According to her, the speedy execution of host community development regulation and incorporation of HCDT fund is to curb rampant community restiveness and provide conducive business environment for operations and shared prosperity to thrive.

    Speaking on the timeline required to effectively incorporate HCDT, she said that it must be incorporated prior to the application Field Development Plan (FDP) and commencement of the commercial operations for a petroleum mining license.

    “Three strategic stakeholders in HCDT are the regulator, charged with making regulations and providing oversight functions for implementation of developmental projects, and the settlors who provide the three per cent OPEX to fund the trust.

    “The third one is the Board of Trustees, being the community members, nominated by the community dwellers to serve on the board, to manage and administer the HCDT fund,” she said.

    She said that though the host communities were funded through the three per cent OPEX of the settlors, there are other sources of fund, namely donation, gifts and grants, as well as profits, interest and reserve funds.

    “The three per cent OPEX is considered 100 per cent when it enters the collection account and sub divided into 75 per cent for capital project development and 25 per cent for investment,’’ she said.

    Nwabueze, however, said that the NUPRC also developed innovative software and a one-stop-shop called HostComply.

    She said that the software was for end-to-end reporting and monitoring HCDT activities to enable effective implementation of the HostCom provisions of the PIA.

  • Nigeria’s oil rig count hits 46 – NUPRC

    Nigeria’s oil rig count hits 46 – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the nation’s oil production rig has risen from eight in 2021 to 46 in July, 2025.

    Mr Gbenga Komolafe, Commission Chief Executive (CCE),  disclosed this on Wednesday in Abuja at the inauguration of a media workshop organised for journalists covering the oil and gas sector.

    The rig count is a key metric for measuring vibrancy and performance in the oil and gas industry.

    The rig count which is a key equipment on which the oil is drilled reveals the level of vibrancy and the activities in the industry.

    According to the commission’s data, about 46 active rigs are driving the current oil production in Nigeria.

    Komolafe, however, attributed the steady growth in the rig count to the Petroleum Industry Act (PIA) enactment in 2021, and the commission’s commitment geared towards increasing oil production in the country.

    He said the NUPRC through its Project One Million Barrels initiative had scaled up Nigeria’s oil production from one million barrels per day, oscillating around 1.7 million barrels.

    The NUPRC boss said the initiative which was inaugurated in Oct. 2024, was expected to increase oil production by one million additional units per year, adding that about 300,000 barrels of oil per day has been achieved since the inauguration of the programme.

    He commended President Bola Tinubu for the Executive Orders 40, 41, and 42, which encouraged tax incentives and tax remission as well as redefined the contracting circle and the threshold in the industry.

    Komolafe said the 2024 Executive Orders: 40 on fiscal incentives, 41 on local content, and 42 on cost efficiency and contract timelines, had catalysed massive investment inflows.

    “These have yielded positive results in terms of the Final Investment Decisions (FIDs) that have attracted huge amounts of money, billions of dollars to the country,” he said.

    He urged the media practitioners to report the commission activities professionally in such a way that Nigerians would appreciate and understand its operations.

    “As a regulator, we are wrongly perceived, often times people fail to understand the difference between a regulator and an operator.

    “As a regulator, our activities put us in a quasi-judicial position, in position to mediate, it is an omnibus job,” he said.

  • NUPRC denies violating oil licencing guidelines

    NUPRC denies violating oil licencing guidelines

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said that no oil licensing guidelines violations occurred during the 2024 oil block licensing round.

    The commission stated that the process was conducted in strict compliance with the Petroleum Industry Act (PIA) and its own licensing guidelines, ensuring a transparent, competitive and technology-driven bidding exercise.

    Mr Gbenga Komolafe, the chief executive of NUPRC made the explanation in a statement on Thursday in Abuja.

    Komolafe said that eligibility was determined by a rigorous assessment of technical expertise, financial strength and legal compliance.

    He said, contrary to claims that a particular company registered days before the commencement of bidding and was improperly awarded oil blocks, guidelines did not restrict participation based on a company’s incorporation age.

    “The technical and financial capacity of a bidder was assessed not merely by the date of incorporation of the bidding entity, but by proven track records of its promoters, affiliated companies or parent organisations.’’

    This approach, he said allowed newly formed Special Purpose Vehicles (SPVs), when backed by credible and experienced industry players, to compete effectively and fairly.

    “The 2024 licensing round involved multiple stages, including pre-qualification, technical evaluation and commercial bid evaluation.

    “Applicants were required to demonstrate financial capability, technical expertise and legal compliance by submitting detailed documentation, such as incorporation papers, tax clearances and proof of operational experience.

    “The pre-qualification window was open with no restrictions on company age. The commercial bidding phase was carried out digitally using encrypted technology to ensure the integrity and confidentiality of the data.

    “The results were announced transparently and publicly, featuring live televised sessions that were observed by stakeholders, including the Nigerian Extractive Industry Initiative (NEITI) and relevant government ministries.

    “The commercial bid evaluation was conducted using a transparent, digital and point-based assessment system, which included signature bonus, proposed work programme financial commitments and work performance security,’’ he said.

    He highlighted that indigenous oil companies aggressively participated and out-bided some national and international players, reflecting strong investor confidence following the enactment of the PIA 20211.

    Komolafe said that the 2024 oil block licensing round, adhered fully to all statutory provisions and guidelines, with no discrimination or corrupt practices involved.

    “The NUPRC remains committed to transparent regulation aimed at optimising Nigeria’s hydrocarbon resources and attracting investment under President Bola Tinubu’s administration,” he said.

    He reiterated the commitment of the commission to maintain an open dialogue, while upholding a strong and transparent regulatory regime that would benefit all Nigerians.

    Komolafe, underscored the importance of ensuring that reports on the operational activities of the commission were contextual, fact-checked and aligned with the statutory provisions under the PIA, 2021 and its regulations.

  • Nigeria’s oil reserves stand at 37.28bn barrels, gas hit 210.54 tcf – NUPRC

    Nigeria’s oil reserves stand at 37.28bn barrels, gas hit 210.54 tcf – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Friday said that the nation’s crude oil reserves stood at 37.28 billion barrels (bb) as at Jan. 1, 2025.

    The commission also said that Nigeria’s gas reserves hit 210.54 trillion Cubic Feet (tcf).

    Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, who stated this said that oil and condensate reserves stood at 31.44bb and 5.84bb respectively, amounting to a total of 37.28 bb.

    The News Agency of Nigeria (NAN) reports that the figure is against the 37.50 bb of proven crude oil reserves and proven natural gas reserves 209.26 tcf recorded in 2024.

    Komolafe said the Associated Gas and Non-Associated Gas reserves stood at 101.03 tcf and 109.51 tcf, respectively, resulting in total gas reserves of 210.54 tcf.

    According to Komolafe, the commission in keeping with its mandate as enshrined in the Petroleum Industry Act (PIA 2021), is committed to driving the efficiency and effectiveness of the upstream oil and gas sector.

    He assured enhancing the growth of oil and gas reserves towards ensuring sustainable increase in production for shared prosperity, as articulated in the Regulatory Action Plan for 2024 and the Near Term.

    “Against the foregoing, I am pleased to present to you an overview of the Nation’s oil, condensate, associated gas, and non-associated gas reserves as of January 1, 2025, as follows:

    “Crude Oil and Condensate reserves stands at 31.44bb and 5.84bb respectively, amounting to a total of 37.28bb.

    “Associated Gas and Non-Associated Gas reserves stands at 101.03 tcf and 109.51 tcf, respectively, resulting in total gas reserves of 210.54 tcf.

    “The Reserves Life Index is 64 Years and 93 Years for Oil and Gas, respectively.

    “In view of the above, and in furtherance of Chapter 1, Part III, Section 7 (g), (i), (j), (k), (m), (q), (r), and other powers enabling me in this respect, I, Engr. Gbenga Komolafe, CCE, hereby declare the total oil and condensate reserves of 37.28bb.

    “And total gas reserves of 210.54 tcf as the official National Petroleum Reserves Position as of Jan. 1, 2025,’’ he said.

  • Nigeria’s rig count to reach 50 year end – NUPRC

    Nigeria’s rig count to reach 50 year end – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the country’s  rig count will hit 50 by the end of 2025.

    It said the country’s rig count had increased from eight in 2021 to 40 in 2025.

    The Chief Executive, NUPRC, Gbenga Komolafe said this on Wednesday in Abuja at the ongoing 2025 Nigeria International Energy Summit (NIES).

    Komolafe said crude oil production increased by 70 per cent from one million barrel per day (bopd) in 2021 to the current production of 1.75 million bopd.

    He recalled that between 2023 and 2024, oil reserves increased by 1.43 per cent, reaching 37.5 billion barrels, while gas reserves grew by 0.21 per cent, reaching 209.26 trillion cubic feet.

    According to Komolefe, these accomplishments are not just numbers but are parameters for measuring vibrancy in the industry driven by effective regulatory policies.

    He said in pursuit of its goal to reach 40 billion barrels of oil and 220 trillion cubic feet of gas, it had vigorously pursued strategies to stimulate exploration activities and accelerate development.

    As part of these efforts, he said the commission successfully completed the 2022/2024 bid licensing round, and awarded 27 Petroleum Prospecting Licenses (PPLs) across various terrains.

    He said efforts were also on for the 2025 bid round, embracing a new paradigm of annual licensing rounds.

    “At this point, it is worth highlighting that the Commission has deliberately been acquiring high-quality geological and geophysical data through multi-client service arrangements.

    “The commission also ensures access to the data for enhanced value especially during licensing rounds and other transformative deals.

    “This proactive approach empowers informed decision-making and fuels strategic investments that will shape the future of Nigeria’s oil and gas sector for shared prosperity,’’ he said.

    Speaking on optimising production and bridging the gap, Komolafe said Nigeria’s vast oil reserves presented a remarkable opportunity for growth and economic transformation.

    “While our current production averages 1.75 million barrels per day, our technical potential is 2.24 million bpd.

    “The commission is working assiduously to bridge the gap between the actual production and the potential through actions aimed at improving transparency, driving collaboration with E&P companies, ensuring financial viability and fast-tracking field developments.

    “It is also adopting cutting-edge improved oil recovery technologies, reducing costs, eliminating entry barriers and optimising production,’’ he said.

    He said its efforts to reactivate shut-in wells and leverage low hanging fruits opportunities will bring them closer to the actualisation of the Project one MMbopd additional production target it recently inaugurated.

  • 25 firms win FG oil licences – NUPRC

    25 firms win FG oil licences – NUPRC

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 25 oil bidders emerged at the 2024 oil licensing bid round.

    The Chief Executive of NUPRC, Mr Gbenga Komolafe, announced the winners at the licensing round commercial bid conference held in Lagos on Wednesday.

    The winners that emerged after a competitive bidding include Sifax and Royal Gate Consortium, and Oceangate Engineering Oil and Gas Ltd.

    Both won the bids for PPL 300-DO and PPL 302-DO respectively, having emerged as the sole bidders in the categories.

    For PPL 303-DO, two bidders, MRS Oil and Gas Company Ltd., and NNPC Exploration and Production Ltd., qualified and had a tie in the bidding, but MRS Oil and Gas emerged the winner.

    In PPL 304-DO, Homeland Integrated Offshore Services Ltd. edged out Sifax and Royal Gate Consortium to emerge the winner. Hamilcar Oil and Gas Consortium won the bid for PPL 305-DO ahead of NNPC E&P.

    BISWAL Oil and Gas Ltd. won in the PPL 306-DO bid, beating NNPC E&P Ltd.

    Petroli Energy Marketing and Supply Ltd. won the PPL 269, Sahara Deepwater Resources Ltd. won PPL 270, while Sahara Deepwater also won the PPL 271 Licence.

    Totalenergies, with a 126 points, emerged winner in the PPL 2000/2001, beating Star Deepwater Petroleum Ltd. that scored 125 points.

    For PPLs 2002, 2003, 2004, 2005, and 2006, BISWAL Oil and Gas; First E & P Development Company; Dewayles International Ltd.; Applefield Oil and Gas Ltd. and First E&P Development Company Ltd., respectively won the licences, having been the sole bidders in their respective categories.

    Similarly, PPLs 2007, 2008 and 3007 went to R28 Holdings Ltd., Tulcan Energy E & P Company Ltd. and Oceangate Engineering Oil and Gas Ltd.

    Broron Energy Ltd. won PPL 2009, while PPLs 3011, 3012, 3015, 3016 and 3017, were all won by sole bidders including: R28 Holdings,Tulcan Energy E &P Company Ltd., Panout Oil and Gas, Hakilat Oil and Gas Consortium Ltd., and Applefield Oil and Gas respectively.

    Komolafe also announced that there would be another oil licensing bid round in 2025.

    According to him, the commission decided to make licensing rounds an annual exercise to boost oil production.

    “While we are proud of our recent achievements as industry stakeholders, we must remain mindful of the challenges ahead.

    “Declined production levels and failed global competition demand strategic action. Interestingly, the Petroleum Industry Act has given us a unique opportunity to transform the industry, attract investments and position Nigeria as a forefronter.

    “To this end, I am pleased to announce that the NUPRC will launch another licensing round in the year 2025.

    “Building on the lessons learned from this year’s round, the 2025 exercise will focus on discovered and undeveloped fields, fallow assets and prioritise natural gas development to support Nigeria’s commitment to UN Sustainable Development Goals,” he added.

    Komolafe said the regulator’s commitment had been to restore investors’ confidence in the industry.

    According to him, NUPRC has done so diligently by ensuring that its activities are in alignment with the provisions of the Petroleum Industry Act.

    “What we are doing here today is not a matter of discretion by the commission or the statutory provisions of the Petroleum Industry Act.

    “The statutory provisions of the Petroleum Industry Act provide that the commission should conduct licensing rounds.

    “The law did not make it annual, but to ensure that we grow, preserve and optimise our hydrocarbon resources, as I said, we are committed to annual licensing rounds. And that’s why I said that after this (2024) exercise, we will commence another one in 2025,” he emphasised.

    The NUPRC boss added that the commission had started the recovery of idle assets based on the ’drill or drop’ provision of the Petroleum Industry Act.

    “There is a provision in the Petroleum Industry Act that speaks to ‘drill or drop’. So, we have been having engagements with the industry to ensure that unexplored areas and resources are harvested back into the basket; and we have done this.

    “We intend to rebuild those idle assets because a lot of our assets remain idle and that is not the intent of the Petroleum Industry Act.

    “So, as a commission and as a regulator, we have started activating the drill or drop provisions of the Petroleum Industry Act, which is intended to ensure that our assets do not just remain idle.

    “So, we are harvesting them into the basket, and we will ensure that they go for bidding to interested bidders in the next licensing round,” he stated.

  • NUPRC set for 2025 oil licensing bid round – CEO

    NUPRC set for 2025 oil licensing bid round – CEO

    Mr Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says a new round of oil licensing bid will take place in 2025.

    Komolafe made the announcement as the commission approaches the conclusion of the ongoing 2024 Licensing Round Commercial Bid Conference in Lagos on Wednesday.

    He said that the commission intends to make licensing rounds an annual event to boost oil production.

    The 2025 round, he said, would focus on unexplored assets, signaling the country’s commitment to further harnessing its vast oil and gas potential.

    Speaking about the current 2024 licensing round, which began in May, Komolafe emphasised its significance for Nigeria’s oil and gas sector.

    “This licensing round offers a total of 31 blocks—24 newly selected and seven deep offshore blocks carried over from the 2022 Mini Bid Round—spanning onshore, shallow water, and deep offshore terrains.

    “These blocks represent enormous potential for boosting Nigeria’s economic growth, enhancing energy security, and driving technological advancements,” he said.

    The NUPRC boss said that the 2024 round was particularly historic, being the first since the enactment of the Petroleum Industry Act (PIA) in August 2021.

    Komolafe said that the event was seen as a crucial step in positioning Nigeria as a global energy player, with the winners of the licensing round revealed through an open and transparent process.

    “With over 209 trillion cubic feet of natural gas reserves and more than 37 billion barrels of oil reserves, Nigeria remains one of the world’s most resource-rich nations, yet much of its potential remains untapped,” he said.

    The NUPRC chief executive said further that the current licensing round aimed to unlock these resources, enhance production, and expand natural gas utilisation opportunities.

    “The 2024 round is designed with investor-friendly terms, streamlined block allocations, and a strong focus on local content development.

    “It also emphasises sustainability, ensuring that all exploration and production activities adhere to global best practices and environmental stewardship,” he said.

    According to Komolafe, Nigeria’s oil and gas sector is poised for transformation, driven by the support of the PIA and Presidential Executive Orders.

    He expressed confidence that the country was well-positioned to attract investment and achieve early exploration and production milestones.

    The NUPRC chief stressed that the 2024 Licensing Round was more than just a commercial initiative.

    He said that it is a transformative opportunity for Nigeria to harness its energy resources, stimulate economic growth, and attract new investments to the sector.

    Looking ahead, Komolafe said that NUPRC was already preparing for the 2025 licensing round, which would focus on natural gas and underdeveloped fields.

    “This continued effort demonstrates Nigeria’s commitment to energy security, economic growth, and meeting the global demand for sustainable energy.

    “The 2024 Licensing Round marks a bold declaration that Nigeria is ready for business. The country is poised to continue its journey toward becoming a leading player in the global energy market.

    “As the 2024 licensing round progresses, bidders will soon learn the outcome of their applications,” the commission’s chief executive said.