The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that it will hand over 220 open oil blocks across the country’s onshore and offshore basins to concessionaires once periodic bid rounds are completed and conditions are fulfilled.
NUPRC data shows that deep offshore terrain contains the largest share, with 59 unlicensed blocks. The Benue Trough follows with 41 open blocks, while the Chad Basin holds 40.
The Sokoto Basin has 28 blocks awaiting award, and the Bida Basin has 16.
In the offshore Niger Delta, seven blocks remain open. The Anambra Basin still has 13, while the Benin Basin and the onshore Niger Delta each have eight unlicensed blocks.
NUPRC clarified that these 220 blocks are not abandoned. Instead, they are awaiting concessions under Section 7(t) of the Petroleum Industry Act 2021, which authorizes the commission to run periodic licensing rounds and award blocks to successful bidders.
The commission emphasized that it will transfer the 220 blocks, including 59 in offshore deep water, to investors after competitive bid rounds are concluded.
source: https://apanews.net/
African Energy Council