Nigeria has opened bidding for 50 oil and gas blocks, aiming to attract $10 billion in investment and add 400,000 barrels per day of production as major global oil companies expand their presence in the country.
Nigeria has launched a tender for 50 oil and gas blocks in a bid to secure $10 billion in new investment and boost daily production by 400,000 barrels, according to the Nigerian Upstream Petroleum Regulatory Commission chief, Gbenga Komolafe, who emphasized that “certainty and predictability have become the true currencies of investment.”
The offering includes offshore, frontier, and deepwater assets, supported by newly reprocessed seismic data designed to reduce exploration risk. Since early 2025, Nigeria has approved 46 field development plans, increased its rig count above 60, and lifted output to 1.71 million barrels per day. Recent multi-billion-dollar investment decisions and expanded participation from majors such as Shell and Chevron—alongside TotalEnergies’ strategic acreage realignments—signal renewed confidence in the country’s oil and gas sector.