NUPRC Launches 2026 Licensing Round for Oil Blocks

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the 2026 Licensing Round, which includes 40 oil and gas blocks available for investment. This announcement was made by the Commission Chief Executive (CCE), Mrs Oritsemeyiwa Eyesan, during the NUPRC's 5th anniversary ceremony in Abuja, themed “From Uncertainty to Stability: Unlocking the Next Phase of Investment.” The licensing round encompasses land, shallow-water, and deep-water terrains, aimed at attracting investors with the necessary technical competence, financial capacity, and commitment to develop Nigeria’s petroleum resources.

Mrs Eyesan stated that guidelines for the licensing round would include evaluation methodologies, publication of results, and disclosure of beneficial owners of bidders, as advised by the Nigeria Extractive Industries Transparency Initiative (NEITI). She also highlighted plans to restore over 788,000 barrels per day of shut-in production and to advance offshore projects valued between $30 billion and $50 billion to final investment decisions.