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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved a new signature bonus range of $3 million to $7 million for oil blocks in the ongoing 2025 Petroleum Licensing Round.
The commission announced in a statement that the revised rates decision aligns with global industry practices.
A signature bonus is the upfront fee oil companies pay the government after winning rights to develop an oil block.
NUPRC said the licensing round will run for eight months, beginning November 17, 2025 and ending July 17, 2026, after the commercial bid conference.
According to NUPRC, the process will follow a two-stage structure: a qualification stage, where applications are screened, and a bid stage, where shortlisted companies submit technical and commercial bids.
It also added that companies that pass the first stage will be required to sign a confidentiality agreement before moving forward.
“The qualification stage involves the submission and evaluation of applications by interested parties or consortia in accordance with the Regulation and the Guidelines.
“Applicants shall provide all information required for this stage. Only applicants who are adjudged qualified and subsequently shortlisted by the Commission shall proceed to the Bid Stage, and will be required to execute a Confidentiality Agreement prior to participation.
“At the bid stage, shortlisted applicants or bidders shall submit their Technical and Commercial Bids in accordance with the Regulation, the Guidelines, and any other bidding documents issued by the Commission.”
NUPRC also added that “the exercise is open and non-discriminatory to both local and foreign companies.”
A foreign company does not need to register in Nigeria to participate in the bid, according to the upstream regulator.
It added that the PPL shall only be “awarded after such a company has been duly registered under the Companies and Allied Matters Act (CAMA) as stipulated in the PIA.”
The agency listed the mandatory documents required for applicants including the Incorporation documents, Consortium Agreement in case of companies applying as a consortium, profiles of the company’s promoters/management team, tax clearance certificate for the past three years, where applicable and evidence of financial capacity and technical competence.
It also noted that signature bonus payments must be made in US dollars, not naira.
There are 50 blocks covering the Onshore, Shallow Water, and Deep Offshore areas.
The blocks on offer are: 1. PPL 2A29; 2. PPL 2A30; 3. PPL 2A31; 4. PPL 2A32; 5. PPL 2A33; 6. PPL 2A34; 7. PPL 2A35; 8. PPL 2A36; 9. PPL 2A37; 10. PPL 2A38; 11. PPL 2A39; 12. PPL 2A40; 13. PPL 2A41; 14. PPL 2A42; 15. PPL 2A43; 16. PPL 2A44; 17. PPL 2A45; 18. PPL 2A46; 19. PPL 2A47; 20. PPL 2A48; 21. PPL 2A49; 22. PPL 2A50; 23. PPL 2A51; 24. PPL 2A52; 25. PPL 2A53; 26. PPL 2A54; 27.
Others include: PPL 2A55; 28. PPL 2A56; 29. PPL 2A57; 30. PPL 2A58; 31. PPL 2A59; 32. PPL 2A60; 33. PPL 2A61; 34. PPL 2A62; 35. PPL 2010; 36. PPL 307; 37. PPL 308; 38. PPL 309; 39. PPL 900; 40. PPL 901; 41. PPL 902; 42. PPL 903; 43. PPL 700; 44. PPL 701; 45. PPL 702; 46. PPL 703; 47. PPL 800; 48. PPL 801; 49. PPL 802; 50. PPL 803.
