NUPRC Announces 2025 Oil Sector Licensing Round to Boost Investments
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed plans to commence the 2025 licensing round on December 1, 2025, in a bid to attract new investments in the oil and gas sector. The commission's Chief Executive, Gbenga Komolaf, announced the initiative to increase production by 1 million barrels per day during an investment forum in London, UK.
This move is aimed at improving government revenue, restructuring the sector, and encouraging foreign oil companies to invest in Nigeria. The announcement aligns with the Petroleum Industry Act and signals a shift towards a more transparent bidding process.
NUPRC acknowledges the need to collaborate with stakeholders to address challenges and enhance industry confidence.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
NUPRC Announces 2025 Oil Licensing Round to Unlock Nigeria's Energy Potential
NUPRC Sets $3m to $7m Signature Bonus for 2025 Oil Licensing Round
NUPRC Approves 28 Fields, Targets 600,000 bpd in Oil Sector
Nigeria Initiates 2025 Oil Licensing Round to Boost Sector Investments
NUPRC CEO Unveils Bold Plans for Nigeria's Upstream Sector Revitalization
Nigerian Upstream Oil Sector Thrives with $40bn Investments, NUPRC Achievements
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
