Sahara Deepwaters, Total Energies, First E&P, MRS and others, yesterday, emerged the winners of 25 blocks under the 2024 oil bidding.
This was even as the Nigerian Upstream Regulatory Commission, NUPRC, said plans have been concluded to hold a fresh oil bidding round in 2025, reports Vanguard.
However, the companies won the oil blocks at the 2024 licensing round commercial bid conference held in Lagos, yesterday.
25 winners emerge
Sifax & Royalgate Consortium and Ocean Gate Engineering Oil, which won PPLs 300 -Do, 302-Do and 303-Do respectively, while MRS Oil and Gas Limited that won 303-Do has NNPC Limited E&P as the reserve bidder.
Also, Sifax & Royalgate Consortium won PPL 304 while Homeland Integrated Offshore Services Limited remains the reserve bidder while Hakilat Oil and Gas Consortium Limited that won PPL 305, has NNPC E&P Limited as the reserve bidder.
Hakilat Oil and Gas Consortium Limited that won PPL 305, has NNPC E&P Limited as the reserve bidder while Biswal Oil and Gas Limited won PPL 306 with NNPC E&P Limited as the reserve bidder.
Petrolli Energy Marketing & Supply Limited won PPL 269 with Afagaf Company Limited as reserve bidder while Sahara Deepwater Resource Limited won PPL 270 with AMG E&P Company Limited as reserve bidder.
Also, Sahara Deepwater Resource Limited won PPL 271with RBO Energy Services Limited as reserve bidder while Panout Oil & Gas Limited won PPL 300/301with Petroli Energy Marketing & Supply Limited as reserve bidder.
Total Energies E&P Nigeria E&P Nigeria won PPL 2000 with Star Deepwater Petroleum Limited as reserve bidder while Biswall Oil and Gas Limited won PPL 2002.
First E&P Development Company Limited, Dewayles International Limited, Applefield Oil and Gas Limited won PPLs 2003, 2004 and 2005, respectively.
Also, First E&P Development Company Limited, R28 Holdings Limited, Tulcan Energy E&P Company Limited and Ocean Gate Engineering Oil and Gas Limited won PPLs 2006, 2007, 2008 and 2009, respectively.
Finally, R28 Holdings Limited, Tulcan Energy E&P Company Limited, Panout Oil & Gas Limited, Hakilat Oil and Gas Consortium Limited and Applefield Oil and Gas Limited won PPLs 3011, 3012, 3015, 3016 and 3017, respectively.
Speaking at the event, the Commission Chief Executive, NUPRC, Engr. Gbenga Komolafe, said: “The 2024 Licensing Round, launched in May, represents a significant leap in our hydrocarbon development strategy. The licensing round offers twenty-four (24) carefully selected blocks spanning onshore, shallow water, and deep offshore terrains.
“Complementing these are the seven deep offshore blocks carried over from the 2022 Mini Bid Round, bringing the total to thirty-one (31) blocks. Together, these assets hold enormous potential for economic growth, energy security, and technological advancement.
“As we move forward, it is essential that we prioritise transparency, accountability, and decarbonisation measures in the management of our oil and gas sector. Accordingly, the Commission has reaffirmed its unwavering commitment to openness and transparency, in alignment with the principles of the Extractive Industry Transparency Initiative (EITI).
“The commercial bids, based on bid parameters prescribed and published on the Bid Portal, will be opened and processed through electronic bidding process. The bids will be conducted in the presence of representatives of the Nigerian Extractive Industry Transparent Initiative, the Federal Ministry of Finance and the Federal Ministry of Petroleum Resources.
“This Licensing Round is designed with unique features to position the industry to achieve far-reaching benefits. With reduced signature bonuses and the recent Presidential Executive Orders on non-associated gas (NAG) development, optimized local content, and the reduction of contracting costs and timelines, we have fostered an enabling environment that strengthens Nigeria’s competitiveness in the global energy market.”
He said: “The nation was poised for aggressive exploration and development, adding that with the sector transformation driven by the Petroleum Industry Act, PIA and the Presidential Executive Orders, the NUPRC looks forward to the making of early Final Investment Decisions (FIDs) on projects.”
According to him, the regulator also anticipate a significant uptick in exploration and development drilling, early first oil and gas production, across all terrains.
He said: “These milestones will undoubtedly drive economic growth, create jobs, strengthen energy security, and solidify Nigeria’s position as a prime investment destination in the global oil and gas industry.
“However, we are aware of the unique challenges the industry faces today — challenges we must address through collaboration, innovation, and a commitment to global best practices.
“While we are proud of our recent achievements as industry stakeholders, we must remain mindful of the challenges ahead. Declining production levels and fierce global competition demand strategic action. Interestingly, the PIA has given us a unique opportunity to transform the industry, attract investments, and position Nigeria as a formidable player in the global energy space.”
NUPRC plans fresh exercise in 2025
On the 2025 exercise, he said: “I am pleased to announce that the NUPRC will launch another Licensing Round in 2025. Building on the lessons learned from this year’s round.
The Commission said the plan was targeted at attracting additional investments, increasing oil and gas reserves and the nation’s production capacity.
“The 2025 exercise will focus on discovered but undeveloped fields (fallow assets) and prioritize natural gas development to support Nigeria’s commitment to UN Sustainable Development Goals.”
