Nigeria has launched its 2025 oil licensing round, offering 50 blocks as the country works to revive production and draw fresh investment into its energy sector. The Nigerian Upstream Petroleum Regulatory Commission said the round includes onshore, shallow-water, frontier, and deepwater assets, signaling a broad push to expand exploration. Regulators expect the bidding process to attract up to $10 billion and potentially add 2 billion barrels of output over the next decade, eventually contributing 400,000 barrels per day. While awardees from last year’s round have begun early-stage work, officials stress that new production will take time. This move is a key part of Nigeria’s strategy to revive its oil industry, which faces challenges from underinvestment and insecurity in its oil-rich Niger Delta region.
CNBC Africa
