NUPRC To Launch New Licensing Round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 oil and gas licensing round will commence in the third quarter of the year following approval by the Minister of Petroleum Resources in accordance with the provisions of the Petroleum Industry Act (PIA).

The announcement was made by the Commission Chief Executive, Oritsemeyiwa Eyesan, during a meeting with officials of Meren Energy at the commission’s headquarters in Abuja.

Eyesan said preparations for the next licensing exercise were already underway, noting that the commercial bid stage of the ongoing 2025 licensing round would take place in July before the commencement of the 2026 exercise.

She expressed satisfaction with the progress recorded in the current licensing round and said the commission remained committed to ensuring a transparent and competitive process that would attract further investment into Nigeria’s upstream petroleum industry.

Read Also:

• rmafc-begins-revenue-allocation-data-verification
• Africa Data Centres West Africa Chief Exits After Five Years

According to her, growing investor interest and increased production levels demonstrate that Nigeria’s oil and gas sector is becoming more attractive to global investors. She stated that ongoing reforms and policy initiatives have contributed to renewed confidence in the industry and strengthened the country’s position as a leading destination for energy investments.

Eyesan said the commission would continue to implement policies aimed at improving operational efficiency, boosting exploration activities and increasing hydrocarbon production across the country.

She added that the Petroleum Industry Act has provided a more stable regulatory framework for investors and has enhanced the competitiveness of Nigeria’s upstream sector.

The commission chief reiterated the importance of attracting fresh investments into exploration and production activities to support government revenue generation, job creation and energy security objectives.

During the visit, Meren Energy reaffirmed its commitment to expanding its footprint in Nigeria and increasing investments in the country’s oil and gas industry.

Speaking on behalf of the company, Group Chief Executive Officer Dr. Oliver Quinn said ongoing reforms in the sector had strengthened investor confidence and encouraged the company to pursue additional opportunities in Nigeria.

He stated that Africa remains the company’s primary investment destination, with Nigeria occupying the highest priority position in its investment strategy.

Quinn disclosed that Meren Energy has invested approximately $11 billion in major Nigerian oil and gas projects over the past two decades, including the Agbami, Akpo and Egina fields.

He added that the company has also contributed more than $4 billion in taxes and royalties to the Nigerian government during the same period.

According to him, the company is actively evaluating opportunities arising from asset divestments and future licensing rounds as part of its long-term growth strategy in the country.

Quinn said the reforms introduced within the sector have created a more favourable investment environment and improved prospects for long-term business sustainability.

He noted that Meren Energy remains committed to supporting Nigeria’s energy development goals through continued investment, technology deployment and operational excellence.

The company also expressed readiness to collaborate with regulators and other industry stakeholders to drive growth across the upstream segment.

The planned 2026 licensing round is expected to provide opportunities for both local and international investors seeking participation in Nigeria’s oil and gas industry.

The commission said details regarding available assets, qualification requirements and timelines for participation would be communicated ahead of the commencement of the exercise.

The NUPRC maintains that the licensing programme remains a key component of efforts to unlock the country’s hydrocarbon resources and strengthen the contribution of the oil and gas sector to national economic growth.