The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) may adopt biannual oil licensing rounds to accelerate investment and boost crude production. Chief Executive Mrs. Oritsemeyiwa Eyesan stated that the regulator aims for annual or even twice-annual bid rounds, with processes completed in six to seven months. This marks a shift from Nigeria's previous licensing regime. Eyesan expressed optimism that production could reach 4 million barrels per day within ten years.
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