Nigeria's upstream petroleum regulator has opened a new licensing round covering a set of deepwater blocks off the Niger Delta, aiming to attract fresh investment in offshore exploration after several years of subdued activity in the sector.
The blocks on offer sit in water depths that require significant capital commitment, and industry analysts say interest will likely depend on how competitive the fiscal terms are relative to other deepwater basins along the West African coast.
Nigerian officials have framed the round as part of a broader effort to reposition the country's upstream sector for a new wave of investment, alongside ongoing reforms to petroleum sector governance.