NUPRC Engages Indonesia's Pertamina for 2026 Licensing Talks

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), led by Chief Executive Mrs. Oritsemeyiwa Eyesan, has commenced discussions with Indonesia on petroleum investments. This initiative follows a meeting with Indonesia’s Vice Minister of Foreign Affairs, Arif Havas Oegroseno, and Toriq Abdat, Vice President for upstream business development at Pertamina, who indicated interest in Nigeria's 2026 licensing round.

Both nations share priorities in energy security and resource utilization, with Nigeria producing approximately 1.7 million barrels of oil per day and targeting 3 million by 2030, while Indonesia aims to increase its production from 600,000 barrels daily to 2.3 million by 2030. Pertamina is seeking producing assets or projects close to production and is open to competitive bids and bilateral arrangements.

Eyesan emphasized Nigeria's commitment to its aggressive production targets and noted that licensing rounds have become institutionalized under the Petroleum Industry Act 2021, with the last conference in July resulting in 37 assets awarded.