The Nigerian Federal Government has announced the inclusion of 17 additional deep offshore oil blocks in its 2024 Licensing Round for oil fields.
This expansion was confirmed by Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, in a statement released on Tuesday.
Komolafe emphasized that the move aims to maximize the country’s vast oil and gas reserves, enhancing production capabilities and inviting increased investment opportunities. He highlighted ongoing efforts with multi-client companies to conduct extensive exploratory activities and gather essential data to support further investments in Nigeria’s upstream sector.
The addition of these 17 deep offshore blocks follows the government’s initial offering of deep offshore assets earlier in the year, alongside 12 oil blocks and seven other deep offshore assets in the 2024 marginal fields bid round announced on May 8, 2024.
