Global energy giant TotalEnergies has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for conducting a highly transparent and credible 2024 mini-bid round, while declaring strong interest in the upcoming 2025 Licensing Round set to kick off on 1 December 2025.
The praise was delivered, during a courtesy visit to NUPRC headquarters by a senior TotalEnergies delegation led by Mr Nicolas Terraz, President of Exploration and Production. The team met with the Commission Chief Executive, Engr. Gbenga Komolafe.
Mr Terraz described the 2024 mini-bid process as a benchmark of openness and efficiency, saying the experience has strengthened TotalEnergies’ confidence in Nigeria’s evolving regulatory framework under the Petroleum Industry Act (PIA) 2021).
“Drawing from the 2024 bid round, the 2025 edition will be positive,” Terraz told journalists after the closed-door meeting. “We are optimistic about the new bid round and look forward to active participation.”
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In response, Engr. Komolafe reaffirmed the NUPRC’s dual role as both regulator and strategic business enabler, emphasising that the Commission remains committed to creating a predictable, investor-friendly environment that attracts capital while maximising value for Nigerians.
The 2025 Licensing Round, the first full-scale offering since the PIA came into force, is expected to feature onshore, continental shelf and deep-water blocks. Industry sources say the positive endorsement from one of the world’s largest upstream players sends a strong signal to the global investment community at a time when Nigeria is working aggressively to reverse declining oil production and replenish its reserves.
TotalEnergies, a long-standing operator in Nigeria with major stakes in deep-water assets including Egina and Akpo, as well as the Nigeria LNG project, has consistently ranked among the country’s top foreign investors.
