Mkpoikana Udoma
Port Harcourt — TotalEnergies has expressed confidence in Nigeria’s oil and gas regulatory environment, applauding the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, for delivering what it described as a transparent and credible 2024 mini-bid round, while signalling readiness to participate in the upcoming 2025 Licensing Round scheduled to begin on December 1.
The commendation came when a high-level delegation from the company, led by the President of TotalEnergies Exploration & Production, Mr. Nicolas Terraz, visited the Commission Chief Executive, Engr. Gbenga Komolafe, at the NUPRC headquarters in Abuja.
Terraz said TotalEnergies was impressed with the conduct of the 2024 mini-bid round, describing it as a clear demonstration of the Commission’s strengthened governance system under the Petroleum Industry Act, PIA, 2021.
“The transparency and credibility displayed during the 2024 mini-bid round sent a strong signal to investors,” he stated. “Drawing from that experience, we believe the 2025 round will be positive. TotalEnergies is optimistic about the new bid round.”
He added that the company is actively assessing opportunities in Nigeria and sees the new licensing round as a platform for expanded investment.
In his remarks, Komolafe reaffirmed the Commission’s commitment to a stable, predictable and investor-friendly regulatory environment, stressing that the NUPRC is more than a regulator.
“We are not just a regulator; we are a strategic business enabler,” he said. “In line with the PIA, our processes are transparent, competitive and designed to attract serious investors. We welcome the interest shown by TotalEnergies and other global players.”
Komolafe assured that the 2025 Licensing Round would follow the same transparent and data-driven approach that characterised the 2024 mini-bid exercise, adding that investor confidence remains a key priority for the Commission.
TotalEnergies’ endorsement signals renewed international confidence in Nigeria’s upstream regulatory regime, at a time when the country is aggressively pushing for new investments to boost production, strengthen reserves replacement, and drive energy security.
The 2025 Licensing Round is expected to open formally on December 1, with global oil companies, independents and frontier explorers already expressing interest.
