Technical competence to influence oil block awards, says FG
Nigeria’s Federal Government has clarified that the highest financial bidder will not automatically win oil blocks in the ongoing 2025 Licensing Round. Oritsemeyiwa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, emphasized that technical competence and operational capacity are crucial in determining successful bidders. The evaluation process aims to ensure that petroleum assets go to companies capable of developing them, not just those offering the most money. Authorities insist on a rigorous and objective assessment to secure long-term value for Nigeria’s upstream petroleum sector.
TLDR
- Oritsemeyiwa Eyesan stated that technical competence and operational capability are key in awarding oil blocks, not just financial offers.
- The 2025 Licensing Round was announced on November 11, 2025, with 50 oil and gas blocks offered across seven sedimentary basins.
- The bid portal opened on December 1, 2025, and a pre-bid conference was held on January 14, 2026, in Lagos.
- Registration and prequalification submissions closed on February 27, 2026, with prequalification completed on March 16.
- The selection process combines technical and commercial scores, focusing on long-term value and operational capacity.
