Oritsegbubemi Omatseyin
Lagos — TotalEnergies has applauded the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, for delivering a transparent 2024 mini-bid round and has signalled strong interest in the forthcoming 2025 Licensing Round scheduled to commence on December 1, 2025.
This commendation came during a courtesy visit to the NUPRC Commission Chief Executive, CCE, Engr. Gbenga Komolafe, by a high-level TotalEnergies delegation led by the President, TotalEnergies Exploration and Production, Mr. Nicolas Terraz.
He was accompanied by the Managing Director/Chief Executive of TotalEnergies Upstream Companies in Nigeria, Mr. Mathieu Bouyer, and other senior executives. The meeting was held at the Commission’s headquarters in Abuja.
Reiterating the NUPRC’s commitment to a predictable regulatory environment, the CCE noted that the Commission is not only a regulator but a strategic business enabler in line with the provisions of the Petroleum Industry Act (PIA) 2021.
According to him, the era of regulatory ambiguity in Nigeria’s upstream sector is over.
“Now, in Nigeria, we have a regulator that steps in to address the issues as an enabler,” the NUPRC helmsman stated, underscoring the Commission’s investor-centric reforms and continued drive to improve operational clarity for oil and gas companies.
Engr. Komolafe also commended TotalEnergies for its recent execution of projects under the Obagi Host Communities Development Trust, HCDT, describing the development as a demonstration of the company’s commitment to community development and the spirit of the PIA’s host community provisions.
He further used the opportunity to encourage the operator to actively participate in the upcoming 2025 Licensing Round, which the Commission has positioned to attract high-value investments, new entrants, and increased exploration activity across frontier and mature terrains.
In his remarks, President, TotalEnergies Exploration and Production, Mr.Terraz praised the NUPRC for the transparency and credibility displayed during the 2024 mini-bid round. He expressed confidence that the 2025 round would benefit from the Commission’s reform-driven processes and enhanced governance framework.
Mr. Terraz said the company remains optimistic about new opportunities in Nigeria, noting that the clarity and fairness exhibited in the previous round have strengthened investor confidence. He added that lessons learned from the 2024 exercise will positively shape expectations for the 2025 Licensing Round.
“Drawing from the 2024 bid round, the 2025 edition would be positive,” he said, stressing that TotalEnergies is “optimistic about the new bid round.”
Mr. Terraz reaffirmed the company’s long-term commitment to Nigeria’s upstream sector, describing the country as a strategic hub in its global portfolio. He emphasised TotalEnergies’ readiness to align with NUPRC’s vision for a more competitive, transparent, and investment-driven oil and gas industry.
