By: Goodluck E.Adubazi, Abuja.

The race to acquire 50 oil and gas blocks across Nigeria will formally enter a decisive phase on Tuesday, July 21, 2026, as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) hosts its Commercial Bid Conference in Abuja.

The conference, scheduled to hold at the Conference Centre of the Transcorp Hilton Hotel, Abuja, is expected to bring together 143 companies that successfully scaled the prequalification stage of the 2025 Licensing Round.

The NUPRC, in a statement signed by its Head of Media and Corporate Communications, Eniola Akinkuotu, said the invited companies would participate in the commercial bid process under a transparent and competitive framework.

The 50 oil and gas blocks on offer are spread across various terrains, including 16 blocks in the Niger Delta Onshore, 18 in the Niger Delta Shallow Water, one in the Niger Delta Deep Offshore, three in the Benin Basin Onshore, four in the Anambra Basin Onshore, four in the Chad Basin Onshore and four in the Benue Trough.

According to the Commission, the winning bids will be determined through a weighted technical and commercial evaluation based on key parameters, including signature bonus, work programme commitments and commitment to performance security.

The 2025 Licensing Round was officially announced on November 11, 2025, and widely advertised in accordance with the provisions of the Petroleum Industry Act, 2021.

The bid portal was subsequently launched on December 1, 2025, for registration, while a Pre-Bid Conference was held on January 14, 2026, at Eko Hotels and Suites, Lagos.

The pre-bid session provided an opportunity for registered bidders and other interested members of the public to gain insight into the guidelines and requirements governing the licensing exercise.

The registration and submission of applications for prequalification closed on February 27, 2026, while the prequalification stage was concluded on March 16, 2026.

The Commission disclosed that 286 companies submitted applications for prequalification, out of which 196 companies were prequalified to participate in the technical and commercial bid phase.
At the end of the technical bid phase, 143 companies submitted a total of 200 bids.

The 143 successful companies are expected to participate in the Commercial Bid Conference scheduled for July 21, 2026.
Attendance at the event is strictly by invitation.