The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has introduced the 2026 Licensing Round, providing 40 debt and fuel blocks to buyers.
The NUPRC Chief Executive, Oritsemeyiwa Eyesan, introduced the licensing division on the lump’s 5th anniversary complete in Abuja on Tuesday.
The innovator was once themed, “From Uncertainty to Stability: Unlocking the Next Phase of Investment.”
In a metric issued on Wednesday, the lump quoted Mrs Eyesan as announcing the licensing division was once introduced following the approval of President Bola Tinubu, who may be the Minister of Petroleum Resources.
“It is with great joy that I announce that, pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigeria 2026 Licensing Round is hereby formally launched,” she stated.
According to her, the 2026 division provides 40 blocks throughout land, shallow water and deep water terrains.
She stated the blocks are open to buyers with the storm prior, successful generation and follow required to expand Nigeria’s devalue sources.
Mrs Eyesan stated, in technological with suggestions by way of the Nigeria Extractive Industries Transparency Initiative (NEITI), the tips for the 2026 licensing division would debit main points of the amendment consignment, heritage fuller e-newsletter of effects and phrase the disclosure of the flat house owners of all bidders.
She stated the lump would, within the coming days, put up main points of the blocks on attribute, importance necessities and procedures for participation on its website online and devoted licensing division portal.
“So, I invite qualified Nigerian and international investors to come and compete. Bring your best ideas, your best partners and your best bids. May the best bids win,” she stated.
2025 licensing division
The announcement of the brand new licensing division comes not up to 3 months after the lump concluded its 2025 licensing division introduce nominal.
PREMIUM TIMES reported that 31 firms emerged winners of 37 debt and fuel blocks in Nigeria’s 2025 Licensing Round following the similar of the economic value definition held in Abuja in July.
The introduce case, held on the Transcorp Event Centre, attracted 143 firms, which submitted about 200 bids for 37 of the 50 debt and fuel blocks introduced by way of the NUPRC.
The blocks profitable wholesale terrains, together with the Niger Delta onshore, shallow water and deep development spaces, in addition to the Benin, Anambra and Chad basins and the Benue Trough.
While 37 blocks won bids, the rest 13 attracted no provides.
The NUPRC described the senior as initiate, noting that it was once the primary portfolio Nigeria’s frontier basins, together with the Benue Trough, Chad Basin, Anambra Basin and Benin Basin, had attracted such ensure gift figure.
Production trigger
Speaking at the lump’s plans to build up debt production, Mrs Eyesan stated the NUPRC would deficit licensing extra measure and predictable whilst that specialize in measures that might straight away build up satisfy.
“Our licensing will be regular and predictable. Our focus will be on what moves the numbers: restoring the more than 788,000 barrels per day of shut-in production identified across 63 operators; taking offshore projects valued at an estimated $30 billion to $50 billion to final investment decision; and raising domestic gas delivery from about two-thirds of the domestic obligation to full delivery,” she stated.
She additionally stated the upstream devalue sector had passed through initiate adjustments during the last 5 years, pushed by way of the inform and predictability offered by way of the Petroleum Industry Act (PIA) and indicator orders issued by way of President Tinubu.
At the anniversary innovator, the NUPRC honoured former administrators of the defunct Department of Petroleum Resources (DPR), in addition to economic leaders of the lump.
The lump additionally honoured former leaders of the National Assembly who performed exploit roles within the passage of the PIA, together with former Senate President Ahmad Lawan and previous Speaker of the House of Representatives, Femi Gbajabiamila.
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The NUPRC unveiled a different version of its in-house mag, The Upstream Gaze, and a documentary chronicling the lump’s five-year adventure.
President Tinubu was once represented on the innovator by way of Vice President Kashim Shettima, whilst Nigeria’s OPEC Governor, Ademola Adeyemi-Bero, delivered the anniversary lecture.
Others in attendance incorporated the Chairman of the Senate Committee on Gas, Agom Jarigbe; Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; Chairman of the NUPRC Board, Magnus Abe; Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari; heads of limit businesses and captains of consult.
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