Ssonic Petroleum Limited is pleased to announce that it has emerged as the successful bidder for Petroleum Prospecting Licence (PPL) 2A29 (Okoroma Field) in the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 Licensing Round.
This achievement represents a significant milestone in the Company’s continued growth and strengthens its expanding presence across Nigeria’s energy value chain. Building on its existing upstream gas development activities, the award of PPL 2A29 further advances Ssonic Petroleum’s long-term strategy of developing high-quality energy assets that contribute to Nigeria’s energy security, economic development and responsible resource management.
The NUPRC’s 2025 Licensing Round attracted strong participation from indigenous and international energy companies, reflecting continued investor confidence in Nigeria’s upstream oil and gas industry. Ssonic Petroleum is honoured to be among the successful companies selected through a transparent and competitive commercial bid process.
Commenting on the announcement, Dr. Ifeoma Douglas, Managing Director/Chief Executive Officer of Ssonic Petroleum Limited, said:
“Being selected as the successful bidder for PPL 2A29 is a defining moment in Ssonic Petroleum’s growth journey. We commend the Nigerian Upstream Petroleum Regulatory Commission for conducting a transparent, credible and competitive licensing process that continues to strengthen confidence in Nigeria’s petroleum sector. This award complements our broader strategy of building a fully integrated Nigerian energy company with interests across the upstream and midstream sectors. As we move into the next phase, our priority will be to develop the asset responsibly, safely and efficiently while creating lasting value for our shareholders, host communities and the nation.”
The Company also acknowledges the leadership of the Federal Government of Nigeria and the Nigerian Upstream Petroleum Regulatory Commission for their continued commitment to implementing reforms that promote transparency, investment and sustainable growth within the Nigerian energy industry.
Following the fulfilment of all regulatory conditions, including payment of the applicable signature bonus and the issuance of the Petroleum Prospecting Licence, Ssonic Petroleum will commence the technical, environmental and operational activities required to advance the exploration and appraisal of the asset in full compliance with the provisions of the Petroleum Industry Act (PIA), 2021.
As an indigenous Nigerian energy company, Ssonic Petroleum remains committed to applying world-class technical expertise, innovative technologies and responsible operational practices to unlock the full potential of Nigeria’s natural resources. The Company will continue to prioritise environmental stewardship, operational excellence, local content development, job creation and meaningful engagement with host communities throughout the lifecycle of the project.
The award of PPL 2A29 reinforces Ssonic Petroleum’s vision of becoming a leading integrated energy company, delivering sustainable energy solutions that support Nigeria’s long-term energy ambitions and contribute to Africa’s industrial and economic transformation.
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About Ssonic Petroleum Limited
SSonic Petroleum Limited is a Nigerian integrated energy company with interests across the downstream, midstream, and upstream segments of the oil and gas value chain. The company is committed to delivering innovative, sustainable, and world-class energy solutions while supporting Nigeria’s economic growth and the continent’s evolving energy future.