NUPRC Targets 250,000 Barrels Per Day from 22 New Petroleum Licence Holders
NUPRC Targets 250,000 Barrels Per Day from 22 New Petroleum Licence Holders
NUPRC Targets 250,000 Barrels Per Day from 22 New Petroleum Licence Holders
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has pledged to support newly awarded holders of Petroleum Prospecting Licences (PPLs) from the 2022/2023 and 2024 licensing rounds to accelerate oil and gas production in the country.
The Commission expects the 22 licence holders to contribute at least 250,000 barrels of oil per day to Nigeria’s national production within the next five years.
The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this on Tuesday, October 20, 2026, in Lagos during a two-day onboarding workshop for the new licence holders.
The workshop was themed, “From Award to Production: Delivering Nigeria’s Upstream Potential Under the Petroleum Industry Act, 2021.”
Speaking with journalists on the sidelines of the event, Eyesan said the Commission organised the programme to guide the new licence holders and help them understand the steps required to move from licence awards to actual oil and gas production.
“For this set of awardees, we are expecting nothing less than 250,000 barrels per day in the next five years, at least from the 22 awards,” she said.
Eyesan added that Nigeria remained on course to achieve its target of producing three million barrels of oil per day by 2030.
She also advised the new licence holders to learn from the successes and mistakes of previous awardees to avoid delays and improve their chances of achieving production targets.
The NUPRC chief further restated October 31, 2026, as the deadline for the revocation of idle oil and gas licences under the drill-or-drop provision of the Petroleum Industry Act (PIA).
The provision requires licence holders to make progress in developing their awarded assets or risk losing their licences.
The Commission’s renewed support for the new awardees is aimed at encouraging investment, accelerating oil and gas field development, and increasing Nigeria’s crude oil production.
NUPRC Targets 250,000 Barrels Per Day from 22 New Petroleum Licence Holders
