NUPRC gives 31 oil block winners payment deadline

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned 31 companies that won 37 oil and gas blocks in the 2025 Licensing Round to pay their signature bonuses by October 19, 2026. According to Punch, failure to do so will result in the loss of their provisional awards.

The NUPRC issued provisional awards to the successful bidders after the 2025 commercial bid conference in Abuja. The 37 blocks on offer included Petroleum Prospecting Licences in the Niger Delta, shallow water, deep offshore areas, and frontier basins.

The companies that won the blocks risk forfeiting their bid guarantee and losing their provisional awards to reserve bidders if they do not comply with the payment deadline, as stated in the Petroleum Industry Act.

Brief written by urgent.news from Punch Nigeria, Punch — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.