Energy giant praises transparency of 2024 exercise as regulator positions new bid round to attract major investment
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says TotalEnergies has formally indicated interest in participating in Nigeria’s 2025 oil licensing bid round, scheduled to open on December 1.
In a statement issued on Tuesday, NUPRC spokesperson Eniola Akinkuotu said the French energy giant made its position known during a high-level meeting with the commission’s chief executive, Gbenga Komolafe.
The delegation from TotalEnergies was led by Nicolas Terraz, President of TotalEnergies Exploration & Production, and included Mathieu Bouyer, Managing Director of TotalEnergies Upstream Companies in Nigeria, alongside other senior executives.
During the engagement, Terraz commended the NUPRC for what he described as the transparency and credibility displayed during the 2024 mini-bid round. He said the commission’s reforms and strengthened governance frameworks had boosted investor confidence and would likely reflect positively in the upcoming licensing exercise.
According to him, the clarity and fairness experienced in the 2024 process provided valuable lessons that have shaped the company’s expectations for the next round. Terraz reaffirmed TotalEnergies’ long-term commitment to Nigeria, calling the country a strategic hub for the company’s upstream operations. “Drawing from the 2024 bid round, the 2025 edition would be positive,” he said, adding that the firm remains “optimistic about the new bid round”.
Komolafe, in his remarks, stressed that the commission operates not only as a regulator but also as a strategic enabler of business under the framework of the Petroleum Industry Act (PIA) 2021. He said the era of uncertainty in Nigeria’s upstream regulatory environment has ended. “Now, in Nigeria, we have a regulator that steps in to address the issues as an enabler,” he noted.
The NUPRC chief also commended TotalEnergies for recent projects carried out under the Obagi Host Communities Development Trust (HCDT), describing the initiatives as proof of the company’s commitment to community development and compliance with the host community provisions of the PIA.
Komolafe encouraged TotalEnergies to participate actively in the 2025 licensing round, which the commission hopes will attract significant investment, introduce new players, and stimulate exploration across both frontier and established terrains.
About the Author
