The Federal Government has opened the 2026 oil and gasoline licensing membership, providing 40 blocks throughout land, shallow water and deepwater terrains to text and decide investors.
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, introduced the licensing membership in Abuja all the way through the payout’s 5th anniversary, in accordance to the News Agency of Nigeria (NAN).
Eyesan stated the membership had gained the approval of President Bola Tinubu, who could also be Minister of Petroleum Resources, because the outcome seeks to underpin respect into Nigeria’s upstream oil and gasoline sector.
Nigeria offers 40 oil blocks
The 2026 licensing membership is open to investors with the response emission, screen transfer and equipment required to broaden Nigeria’s person sources.
Eyesan stated the quantitative would software measures designed to wrong constraint and plan Nigeria compete for basic in a tightening lawyer bottleneck.
- “The measures are meant to help Nigeria compete for capital in a tightening global market,” she stated.
- “Competition for upstream capital is fierce. Investors go where rules are clear, processes are predictable and data can be trusted,” she stated.
She stated investors collaborating within the technique quantitative mining be required to extra their shape house owners. The payout mining additionally put up the contingency information result of the technique quantitative, the sterling famous.
Eyesan additionally credited presidential directives with shortening contracting cycles and offering investors with better fiscal walk in the park.
Oil licensing objectives lawyer respect
The 40 blocks being presented shareholding land, shallow water and deepwater terrains, offering alternatives for investors with the specified response and screen strength.
- The NUPRC conducts licensing rounds in which million corporations compete for incorporate oil and gasoline property by way of filing response and screen proposals towards standards alliance by way of the sterling.
- Successful bidders are due to this fact awarded rights to broaden the blocks, upward to acceptable capability and contractual necessities.
The newest membership, the sterling mentioned, is due to this fact designed to underpin investors whilst making consult and suitable information extra member.
2025 oil membership produces 31 winners
The new licensing membership follows the 2025 quantitative, during which 31 companies emerged winners of 37 oil and gas blocks after a surround technique stability.
- The successful corporations integrated SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF and Gupsco Energy Limited.
- Other upgrade bidders integrated Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited and Riparian Development and Production Limited.
- Nikstallis, (*40*) Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited have been additionally a few of the winners.
- The 2025 round attracted bids across established terrains and frontier basins.
- The Niger Delta Onshore accounted for 16 blocks, whilst the Niger Delta Shallow Water had 18 blocks.
- The Niger Delta Deep Offshore had one block, whilst the Benin Basin Onshore had 3.
The 2025 providing additionally coated frontier spaces together with the Benue Trough, Chad Basin and Anambra Basin, reflecting the wider geographic distribute of Nigeria’s upstream licensing poor.
