TotalEnergies has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for what it described as a transparent and credible 2024 mini-bid round, saying the reforms are strengthening global investor confidence in Nigeria’s oil sector ahead of the 2025 Licensing Round scheduled to open on December 1.
A high-level TotalEnergies delegation led by Nicolas Terraz, President of Exploration and Production, made the remarks during a courtesy visit to the Commission Chief Executive, Gbenga Komolafe, in Abuja. Terraz was accompanied by the Managing Director of TotalEnergies Upstream Nigeria, Mathieu Bouyer, among others.
Komolafe reaffirmed the Commission’s commitment to predictable regulations under the Petroleum Industry Act (PIA), stressing that the era of uncertainty in Nigeria’s upstream sector “is over”. He described the regulator as a “strategic business enabler”, noting ongoing investor-centric reforms designed to improve operational clarity.
The CCE also praised TotalEnergies for its execution of community development projects under the Obagi Host Communities Development Trust, describing it as a model of PIA compliance.
Komolafe encouraged the energy major to fully participate in the 2025 Licensing Round, which he said is structured to attract fresh capital, new entrants and robust exploration activity across frontier and mature basins.
Terraz, in response, lauded the Commission’s transparent conduct of the 2024 mini-bid round and expressed confidence that the upcoming round would benefit from strengthened governance frameworks. He said TotalEnergies remains committed to Nigeria as a strategic upstream hub and is optimistic about the opportunities the 2025 exercise will unlock.
“Drawing from the 2024 bid round, the 2025 edition would be positive. TotalEnergies is optimistic about the new bid round,” he said.
