2024 Bid Round: NUPRC hands oil prospecting licences to 12 firms

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has formally presented 19 Petroleum Prospecting Licences to 12 companies as part of the 2024 oil licensing round. The concession contracts were signed during the Nigeria Oil and Gas Energy Week 2026 in Abuja, covering deep offshore, shallow water and continental shelf acreages. Beneficiaries include Boron Energy Limited, Sahara Deepwater Resources Limited, and Tulkan Energy E&P Company Limited. Meanwhile, ESSO Exploration and Production Nigeria announced a $300 million investment in the Usan Infill Project, expected to add 40,000 barrels of oil per day.