Just in: FG returns 13 oil blocks to licensing pool
Despite the unbid assets, Eyesan described the overall response to the licensing round as encouraging, revealing that 143 companies participated in the commercial bid process by submitting about 200 bids for the available blocks.
According to Eyesan, the government made 50 oil and gas blocks available for bidding across various sedimentary basins, but only 37 attracted interest from prospective investors.
The 2025 Licensing Round, announced in November 2025 under the provisions of the Petroleum Industry Act (PIA) 2021, offered 50 oil and gas blocks spread across seven sedimentary basins.
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