NUPRC announces 2026 licensing round, unveils plans to boost production

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the 2026 Licensing Round, with 40 oil and gas blocks on offer.

The Commission Chief Executive (CCE) of the NUPRC, Mrs Oritsemeyiwa Eyesan, made the announcement at the 5th anniversary ceremony of the NUPRC, themed “From Uncertainty to Stability: Unlocking the Next Phase of Investment”, which was held in Abuja.

Eyesan said the round offers 40 blocks across land, shallow-water and deep-water terrains, which are open to investors with the technical competence, the financial capacity and the commitment to develop Nigeria’s petroleum resources.

The NUPRC boss said that, in line with the counsel of the Nigeria Extractive Industries Transparency Initiative (NEITI), the guidelines for the 2026 licensing round would also set out the evaluation methodology in full, provide for fuller publication of results, and require disclosure of the beneficial owners of every bidder.

According to Eyesan, the Commission will, in the coming days, publish full details of the blocks on offer, the qualification requirements and the procedures for participation on its website and the dedicated licensing round portal.

She said, “It is with great joy that I announce that, pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigeria 2026 Licensing Round is hereby formally launched.

“The round offers 40 blocks across land, shallow water and deep water terrains. They are open to investors with the technical competence, the financial capacity and, above all, the commitment to develop Nigeria’s petroleum resources. So, I invite qualified Nigerian and international investors to come and compete. Bring your best ideas, your best partners and your best bids. May the best bids win.”

ALSO READ: UK invests £2m in clean energy projects across eight African countries

On immediate plans to increase oil production, she said, “Our licensing will be regular and predictable. Our focus will be on what moves the numbers: restoring the more than 788,000 barrels per day of shut-in production identified across 63 operators; taking offshore projects valued at an estimated $30 billion to $50 billion to final investment decision and raising domestic gas delivery from about two-thirds of the domestic obligation to full delivery.”

Eyesan noted that, in the last five years, the upstream petroleum sector had witnessed many positive changes as a result of the transparency and predictability ushered in by the Petroleum Industry Act, along with the executive order issued by the President.