BUSINESS DAY NG
… As NUPRC plans 2025 oil licensing round for undeveloped fields
Sifax & Royalgate Consortium, TotalEnergies, Sahara Deepwater Resource Limited, Petroli Energy Marketing & Supply Limited, and Panout Oil and Gas Ltd, have emerged winners of key oil blocks at the latest oil licensing bid round in Africa’s biggest oil-producing country.
The rounds, overseen by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), allocated several coveted deep offshore and shallow water assets, signaling a renewed commitment to boosting the country’s hydrocarbon exploration and production.
The 2022/23 Mini Bid Round, featuring seven deep offshore assets, saw six blocks receiving qualified bids, underscoring the sector’s strong appeal to investors.
Among the significant outcomes, Sifax & Royalgate Consortium emerged as the sole bidder for Petroleum Prospecting License (PPL) 300-DO, while Ocean Gate Engineering Oil & Gas Limited clinched PPL 302.
Competitive bidding also played a crucial role, as Sifax Royalgate Consortium outperformed Homeland Integrated Offshore Services Limited to secure PPL 304.
MRS Oil and Gas Company Limited outbid NNPC Exploration and Production Limited for PPL 303
Similarly, Hakilat Oil and Gas Consortium Limited outbid NNPC Exploration and Production Limited to win PPL 305, while Biswal Oil and Gas Limited bested NNPC Exploration and Production Limited for PPL 306.
The competition further intensified in the 2024 Licensing Round, with some assets attracting bids from multiple industry players.
Petroli Energy Marketing & Supply Limited secured PPL 269 by outbidding AFAGAF Company. Sahara Deepwater Resource Limited emerged as a dominant force, winning PPL 270 and PPL 271 through competitive bids against AMG Exploration and Production Company Limited, Kalm Marine Petroleum Exploration and Production Nigeria Limited, and RBO Energy Service Limited.
Panout Oil and Gas Limited emerged victorious in one of the most contested blocks, PPL 300/301-CS, prevailing over Petroli Energy Marketing & Supply Limited, Star Deepwater & Petroleum Limited, and TotalEnergies E&P Nigeria.
TotalEnergies, however, secured a win by outbidding Star Deepwater & Petroleum Limited for PPL 2000/2001.
Several blocks saw sole bidders emerge as winners, reflecting targeted strategies by companies to secure key assets.
Biswal Oil and Gas claimed PPL 2002 unchallenged, while First Exploration and Petroleum Development Company Limited secured PPL 2003.
Dewayles International Limited, Applefield Oil and Gas Limited, First Exploration and Petroleum Development Company, R28 Holdings Limited, and Tulcan Energy Exploration and Production Company Limited also clinched PPL 2004, PPL 2005, PPL 2006, PPL 2007; PPL 2008 their respective blocks without competition.
Broron Energy Limited’s victory over Star Deepwater Petroleum Resources Limited for PPL 2009 highlighted the competitive spirit of the licensing rounds.
Additional sole wins included Ocean Gate Engineering Oil & Gas Limited for PPL 3007, R28 Holdings Limited for PPL 3011, and Tulcan Energy Exploration and Production Company Limited for PPL 3012. Panout Oil and Gas Limited, Hakilat Oil and Gas Consortium Limited, and Applefield Oil and Gas Limited, also secured wins for PPL 3015, PPL 3016, and PPL 3017, respectively…
