NUPRC Announces Winners of 2024 Oil Block Licensing Bid Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the successful bidders for the 2024 oil block licensing round. The winners were revealed during the commercial bid conference held in Lagos on Wednesday.

In total, 16 companies emerged victorious, securing 19 oil blocks, while seven others were designated as reserve bidders. The NUPRC highlighted several notable winners in the licensing round. The Sifax and RoyalGate consortium won petroleum prospecting licences (PPL) 300-DO and PPL 304-DO. 

Moreover, OceanGate Engineering Oil and Gas Ltd successfully obtained PPL 302-DO and PPL 3007, while MRS Oil & Gas clinched PPL 303-DO. Hakilat Oil & Gas Consortium Ltd secured PPL 305-DO and PPL 3016.

Additional winners included BISWAL Oil & Gas Ltd, which acquired PPL 306-DO and PPL 2002, and Petroli Energy Marketing and Supply Ltd, which won PPL 269. Sahara Deepwater Resources Ltd was awarded both PPL 270 and PPL 271.

The NUPRC also announced that Panout Oil & Gas won PPL 300/301 CS and PPL 3015, TotalEnergies E&P secured PPL 2000/2001, and First E&P Development obtained PPL 2003 and PPL 2006