The Federal Government has announced the new winners of Petroleum Prospecting Licenses (PPLs) in Nigeria, effectively naming new potential owners of oil resources in the country.
Among the winners are MRS Oil and Gas Company Limited, TotalEnergies, Sahara Deepwater Resources Limited, and Petroli Energy Marketing and Supply Limited, among others, The Nation reports.
This development follows the completion of the 2024 oil licensing bid round, which saw companies compete for rights to explore and develop oil and gas blocks across the country.
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Notably, MRS Oil and Gas outbid NNPC Exploration and Production Limited to win the coveted PPL 303-DO license with a total offer of $15 million, leaving NNPC without a win in this round.
A total of 14 companies emerged successful in securing 23 licenses, granting them the exclusive rights to explore and potentially produce oil from these designated areas.
These blocks, which could lead to the discovery of new oil wells, represent significant opportunities for the winners to expand their operations and contribute to Nigeria’s energy sector.
The winners also include BISWAL Oil and Gas, First E & P Development Company, Dewayles International Limited, Applefield Oil and Gas Limited, R28 Holdings Limited, Tulcan Energy E & P Company Limited, Oceangate Engineering Oil and Gas Limited, Broron Energy Limited, Panout Oil and Gas, and Hakilat Oil and Gas Consortium Ltd.
