Nigeria plans annual oil licensing rounds in 2025 to boost production and focus on unexplored assets.

Nigeria plans a 2025 oil licensing bid round to boost production, focusing on unexplored assets and natural gas. The move, announced by NUPRC CEO Gbenga Komolafe, aims to make licensing rounds annual, aligning with the Petroleum Industry Act and UN Sustainable Development Goals. The 2024 round saw companies like TotalEnergies and MRS win bids for oil and gas exploration, with the NUPRC also working to reactivate idle assets.

3 months ago
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