NUPRC to Launch 2026 Licensing Round by Third Quarter
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 Licensing Round will commence no later than the third quarter of 2026, following approval by the Minister of Petroleum Resources in line with the provisions of the Petroleum Industry Act (PIA).
The Commission’s Chief Executive, Oritsemeyiwa Eyesan, disclosed this during a meeting with representatives of Meren Energy at the NUPRC headquarters in Abuja on Wednesday.
Eyesan expressed satisfaction with the progress of the ongoing 2025 Licensing Round, noting that the commercial bid phase is scheduled to take place in July 2026.
She explained that preparations for the next licensing exercise would commence immediately after the conclusion of the current round, underscoring the Commission’s commitment to sustaining investment opportunities in Nigeria’s upstream petroleum sector.
According to her, the increasing level of investment and rising crude oil production demonstrate renewed investor confidence in Nigeria’s oil and gas industry.
She attributed the positive outlook to ongoing reforms under the administration of President Bola Ahmed Tinubu, which she said have enhanced the attractiveness and competitiveness of the sector.
Speaking during the visit, the Group Chief Executive Officer of Meren Energy, Oliver Quinn, said recent reforms in the Nigerian petroleum industry had encouraged the company to expand its investment footprint in the country.
Quinn noted that the company remains interested in participating in asset divestments and future licensing rounds as part of its long-term growth strategy in Africa.
He described Africa as Meren Energy’s top investment destination, with Nigeria occupying a strategic position in the company’s portfolio.
According to him, the company has invested approximately $11 billion in major offshore assets, including the Agbami Field, Akpo Field and Egina Field, over the past two decades.
He further disclosed that Meren Energy has paid more than $4 billion in taxes and royalties to the Nigerian government during the same period.
The announcement of the 2026 Licensing Round is expected to further boost investment opportunities and support efforts to increase exploration, production and revenue generation in Nigeria’s oil and gas sector.
NUPRC to Launch 2026 Licensing Round by Third Quarter