The TotalEnergies has applauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for delivering a transparent 2024 mini-bid round and has signalled interest in the forthcoming 2025 Licensing Round to commence December 1.
This commendation was given during a courtesy visit to the Commission Chief Executive, Mr Gbenga Komolafe, by a high-level TotalEnergies delegation, led by Mr Nicolas Terraz, President, TotalEnergies Exploration and Production.
According to a statement on Tuesday by Eniola Akinkuotu, Head, Media and Strategic Communication, NUPRC, Terraz was accompanied by the Managing Director/Chief Executive of TotalEnergies Upstream Companies in Nigeria, Mr Mathieu Bouyer and other dignitaries.
Komolafe, while reiterating the NUPRC’s commitment to a predictable regulatory environment, said it was not only a regulator but a strategic business enabler in line with the provisions of the Petroleum Industry Act (PIA) 2021.
The commission chief executive said the era of regulatory ambiguity in Nigeria’s upstream sector is over.
“Now, in Nigeria, we have a regulator that step in to address the issues as an enabler,” the NUPRC helmsman said, underscoring the commission’s investor-centric reforms and continued drive to improve operational clarity for oil and gas companies.
He 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 encouraged 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, 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.
Terraz said that the company remained optimistic about new opportunities in Nigeria, noting that the clarity and fairness exhibited in the previous round had strengthened investor confidence.
He added that lessons learned from the 2024 exercise will positively shape expectations for the 2025 Licensing Round.
He 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.
“Drawing from the 2024 bid round, the 2025 edition would be positive. TotalEnergies is optimistic about the new bid round,” he said.
