The commission said the commercial evaluation would be based on key bid parameters, including the signature bonus, work programme commitment and commitment to performance security.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will hold the commercial bid conference for its 2025 Licensing Round on Tuesday.
The conference will mark the next stage in the allocation of 50 oil and gas blocks across the country.
The commission, in a statement issued on Monday, said only prequalified companies invited to the exercise would be allowed to attend the conference at the Transcorp Hilton Hotel in Abuja.
According to the NUPRC, the licensing round covers 50 oil and gas blocks spread across diverse terrains, including 16 onshore blocks in the Niger Delta, 18 shallow water blocks, one deep offshore block, three onshore blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin and four in the Benue Trough.
“Attendance is strictly by invitation. On offer are 50 oil and gas blocks across diverse terrains. The Niger Delta Onshore (16), Niger Delta Shallow Water (18), Niger Delta Deep Offshore (1), Benin Basin Onshore (3), Anambra Basin Onshore (4), Chad Basin Onshore (4) and Benue Trough (4),” NUPRC stated.
The commission said the commercial evaluation would be based on key bid parameters, including the signature bonus, work programme commitment and commitment to performance security.
These factors will be combined into a weighted technical and commercial score to determine the successful bidders.
NUPRC noted that the 2025 Licensing Round was announced on 11 November 2025, in line with the Petroleum Industry Act (PIA) 2021, while the bid portal opened for registration on 1 December, 2025.
It added that a pre-bid conference was held on 14 January at Eko Hotels and Suites in Lagos to familiarise prospective bidders and other stakeholders with the licensing guidelines.
The commission said registration and submission for prequalification closed on 27 February, while the prequalification exercise was completed on 16 March.
According to the regulator, 286 companies submitted applications for prequalification, out of which 196 qualified to proceed to the technical and commercial bidding stage.
It added that 143 companies eventually submitted 200 bids and are expected to participate in the commercial bid conference scheduled for Tuesday.
