The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says that the 220 open oil blocks in various onshore and offshore basins across the country will be handed to concessionaires after periodic bid rounds and conditions are met.
According to the data from the NUPRC, the deep offshore terrain accounts for the highest number of unlicensed blocks at 59, while the Benue Trough follows with 41 open blocks, and the Chad Basin hosts 40.
In the Sokoto Basin, there are 28 blocks yet to be awarded, and the Bida Basin has 16.
It added that the offshore Niger Delta still holds seven open blocks. The Anambra Basin has 13 open blocks, while eight each remain unlicensed in the Benin Basin and the onshore Niger Delta.
The NUPRC said in a statement on Wednesday that the unlicensed 220 oil blocks were not abandoned, but were awaiting concessions in line with Section 7(t) of the Petroleum Industry Act 2021, which empowers it to conduct periodic licensing rounds and award oil blocks to successful bidders.
The Commission explained that the open blocks, 59 of which are in the offshore deep water, would be handed over to investors after a bid round.
“The commission further stated that the 220 oil blocks would be handed to concessionaires after periodic bid rounds and conditions had been met,” the NUPRC added.
Source: WAES
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