NUPRC Biannual Oil Licensing Plans

The NUPRC, led by Mrs Oritsemeyiwa Eyesan, may implement biannual oil licensing rounds to boost investment and production. The upcoming round, starting in early October, aims to include previously unawarded blocks and enhance local operator participation.

NUPRC plans to conduct biannual licensing bid rounds to boost Nigeria's oil production. The next round is expected by early October, targeting an increase of 300,000 b/d in the first three years, with a focus on viable assets.

Nigeria's NUPRC plans to hold annual licensing rounds to boost crude oil production from 1.5 million bpd towards a target of 4 million bpd by 2030, as stated by CEO Oritsemeyiwa Eyesan. The strategy includes faster licensing and attracting new operators.