NUPRC Sets Six-Week Deadline for Oil License Compliance

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced a six-week grace period for holders of non-performing oil licenses to comply with their statutory work commitments or face the loss of their permits. This directive targets winners from the 2020 marginal field bid round, the 2022/2023 mini bid round, and the 2024 licensing round.

A circular signed by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, and communicated by spokesman Eniola Akinkuotu, emphasizes that licenses must be actively worked on, as per the Petroleum Industry Act (PIA) 2021. The NUPRC highlighted that failure to comply could lead to measures such as refusing extensions, requiring relinquishment, and initiating revocation proceedings.

Licensees must notify the NUPRC of their compliance status, constraints, and proposed mitigation measures by October 31, 2026. The commission aims to increase production rather than simply revoke licenses, acknowledging potential challenges such as financing and regulatory approvals.