One month after, Oil block winners begin payment of signature bonuses
One month after the conclusion of the 2025 Nigerian oil and gas licensing round, winners of the bid process have commenced payment of signature bonuses for the blocks provisionally awarded to them. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in a post on X on Thursday, saying the payment process had already commenced […]
Exactly a month after concluding the 2025 Nigerian oil and gas licensing round, the winning companies have started paying signature bonuses for the provisional awards they received. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced this development on X, stating that it followed the issuance of provisional awards to the 31 companies that emerged winners of 37 oil and gas blocks at the 2025 Commercial Bid Conference in Abuja.
The NUPRC emphasized that this payment is a crucial requirement for the successful bidders and is a condition they must fulfill before their awards can advance to the next stage of the licensing process. Failure to meet the deadline for paying signature bonuses could result in the forfeiture of both the bid guarantees and the provisional awards to the reserve bidders.
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