Nigeria's $10B Energy Boost: 50 New Blocks for Investors
Update: 2025-12-02
Description
Nigerias Upstream Petroleum Regulatory Commission, led by Gbenga Komolafe, is offering fifty new oil and gas blocks for tender, aiming to attract ten billion dollars in investments and boost daily oil production by four hundred thousand barrels. The commission has been working on reducing risks for potential investors by reprocessing seismic data. Recent developments, such as approved field development plans, increased active oil rigs, and growing crude oil output, indicate growing confidence in Nigerias oil and gas industry. Major oil companies are also increasing their presence in Nigeria, with Shell acquiring an additional ten percent interest in the Bonga field and TotalEnergies selling a forty percent stake in two exploration licenses to Chevron. These investments and collaborations are expected to de-risk and develop new opportunities in Nigerias oil sector.
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