By Samiat Dec, 19, 2024 Featured
Breaking News: Sahara, Total, MRS, and Others Secure 25 Oil Blocks!The 2024 oil licensing round has concluded with a bang! Yesterday in Lagos, Sahara Deepwaters, Total Energies, MRS Oil & Gas, First E&P, and others emerged victorious, securing 25 highly coveted oil blocks in Nigeria. This marks a major milestone in the country’s energy sector, unlocking potential for growth, energy security, and technological innovation.
Winners at a Glance:
• Sifax & Royalgate Consortium: Secured PPLs 300 and 304.
• MRS Oil & Gas Limited: Claimed PPL 303-Do.
• Sahara Deepwaters: Bagged PPLs 270 and 271.
• Total Energies E&P Nigeria: Won PPL 2000.
• First E&P Development Company: Took home PPLs 2003 and 2006.
• Additional winners include Biswal Oil and Gas, Hakilat Oil and Gas Consortium, Panout Oil & Gas, and more!
What This Means for Nigeria
At the event, Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Regulatory Commission (NUPRC), emphasized the licensing round as a leap toward achieving economic growth, job creation, and energy security.
“This milestone positions Nigeria as a prime investment destination in the global oil and gas industry,” he stated.
️ Looking Ahead: The 2025 Oil Licensing Round
The NUPRC has announced plans for a fresh licensing exercise in 2025, targeting:
• Development of fallow assets (discovered but undeveloped fields).
• Natural gas prioritization to meet UN Sustainable Development Goals.
With reduced signature bonuses and optimized local content, this initiative aims to attract more investments and boost Nigeria’s global energy competitiveness.
Conclusion
This victory for the winners underscores Nigeria’s commitment to transparency, innovation, and sustainable energy growth. The nation now stands poised for aggressive exploration and development, heralding a new era in its oil and gas sector.
Let’s keep watching as the energy landscape evolves!
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