NUPRC gives 31 oil block winners payment deadline

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a warning to 31 companies that won 37 oil and gas blocks in the 2025 Licensing Round, giving them a deadline to pay their signature bonuses. The warning came exactly one month after the commission hosted the commercial bid conference in Abuja, where the successful bidders were announced.

The NUPRC stated that failure to pay the bonuses within the stipulated time frame will result in the loss of their provisional awards to reserve bidders. The 37 blocks offered in the licensing round include various onshore, shallow water, and deep offshore areas, as well as frontier basins. Successful bidders are required to pay signature bonuses ranging from $3m to $7m per block, as well as provide guarantees, pay first-year rents, and satisfy other post-award conditions within the prescribed period.

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