220 blocks up for grabs in Nigeria’s bid round to speed up oil & gas development

(offshore-energy.biz) Given its interest in unlocking oil and gas growth, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed its plans to award 220 oil blocks, spanning the African country’s onshore and offshore basins, in its latest hydrocarbon licensing bid round. This entails 59 offshore blocks located in deep water.

According to the African Energy Council, NUPRC will hand over 220 open oil blocks to concessionaires upon completing periodic bid rounds and fulfilling conditions. The lion’s share of these blocks is said to fall into the deep offshore terrain category, which encompasses 59 unlicensed blocks.

This is followed by the Benue Trough (41 open blocks), the Chad Basin (40), the Sokoto Basin (28 blocks awaiting award), and the Bida Basin (16 blocks). In addition, seven blocks remain open in the offshore Niger Delta. While the Anambra Basin still has 13, the Benin Basin and the onshore Niger Delta each have eight unlicensed blocks.

Read full article: 220 blocks up for grabs in Nigeria’s bid round to speed up oil & gas development – Offshore Energy