The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the offer of 40 oil blocks in the 2026 licensing round as Nigeria intensifies efforts to attract fresh capital into the upstream sector. The blocks cover land, shallow water, and deepwater terrains and are open to investors with the technical competence, financial capacity, and commitment to develop Nigeria's petroleum resources. NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, announced the licensing round at the Commission's fifth anniversary celebration in Abuja, stating that it followed the approval of President Bola Ahmed Tinubu and the Minister of Petroleum Resources. Oil and condensate production has risen to 1.821 million barrels per day, and 120 projects have attracted $47.6 billion in investment since 2024, with Nigeria accounting for 38% of Africa's upstream investment.
Related Articles
Don't miss out on breaking stories and in-depth articles.