NUPRC Expects $30 Billion from 22 Offshore Projects

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) projects that 22 major offshore projects will attract investments ranging from $30 billion to $50 billion between 2026 and 2030. This announcement was made by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, during her keynote address at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos.

Represented by Engineer Enorense Amadasu, the Executive Commissioner for Development and Production, Eyesan highlighted that these investments are expected to boost production, create jobs, and enhance energy security. Since 2024, the NUPRC has approved over $57 billion in Field Development Plans (FDPs), leading to several Final Investment Decisions.

The upcoming 2026 Licensing Round is anticipated to show promise due to increased transparency. Eyesan also noted ongoing efforts to address infrastructure deficits and improve collaboration among stakeholders to protect critical energy assets.