No fewer than 143 indigenous and international oil and gas companies would tomorrow, Tuesday, battle for 50 oil and gas blocks as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) begins the commercial bid phase of the country’s 2025 Licensing Round in Abuja.

The commercial bid conference marks the final competitive stage of the licensing exercise and is expected to determine the successful bidders for exploration and production assets spread across seven hydrocarbon provinces.

The blocks on offer comprise 16 Niger Delta Onshore blocks, 18 Niger Delta Shallow Water blocks, one Niger Delta Deep Offshore block, three Benin Basin Onshore blocks, four Anambra Basin Onshore blocks, four Chad Basin Onshore blocks and four Benue Trough blocks.

The Commission said only companies that successfully scaled through the prequalification and technical bid stages were invited to participate in the commercial bid conference.

A statement signed by the Head of Media and Corporate Communications at NUPRC, Eniola Akinkuotu, said the exercise followed a transparent and competitive process in line with the provisions of the Petroleum Industry Act (PIA), 2021.

He said: “Qualified companies that scaled through the transparent and rigorous process have been notified and are expected to physically attend the Commercial Bid Conference taking place at the Conference Center, Transcorp Hilton Hotel, Abuja. Attendance is strictly by invitation.”

Akinkuotu explained that the winning bids would be determined through a weighted assessment of key commercial parameters.

“In line with the guidelines, the elements of bid parameters include the signature bonus, the work programme commitment and commitment to performance security, culminating in a weighted technical and commercial score which will determine a winning bid.”

The Commission noted that the 2025 Licensing Round was officially launched on November 11, 2025, while the bid portal opened for registration on December 1, 2025.

It added that a pre-bid conference held in Lagos on January 14, 2026, provided prospective investors and stakeholders with detailed information on the licensing guidelines and bidding procedures.

According to the Commission, registration and submission for prequalification closed on February 27, 2026, while the prequalification evaluation was concluded on March 16, 2026.

It disclosed that 286 companies initially applied for prequalification, out of which 196 companies met the requirements to proceed to the technical and commercial bid stages.

Akinkuotu further revealed that 143 companies eventually submitted 200 commercial bids and are expected to participate in today’s commercial bid conference.

The outcome of the exercise is expected to shape Nigeria’s upstream investment landscape as the Federal Government seeks to attract fresh capital into oil and gas exploration, increase hydrocarbon reserves and boost crude oil production under the reform framework of the Petroleum Industry Act.