Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened its 2026 oil and gas licensing round, offering 40 blocks to investors.
Gatekeepers News reports that Oritsemeyiwa Eyesan, NUPRC chief executive officer, announced the exercise during the commission’s fifth anniversary ceremony in Abuja.
Eyesan said the exercise followed approval from President Bola Tinubu, who is also the Minister of Petroleum Resources.
“Ladies and gentlemen, the wait is over. It is with great joy that I announce that pursuant to the approval of His Excellency, President Bola Tinubu, and the Minister of Petroleum Resources, the Nigerian 2026 Licensing Round is hereby launched.”
The 40 blocks are available to investors with the required technical expertise, financial capacity and commitment to developing Nigeria’s petroleum resources.
The commission said details of the blocks, qualification requirements and participation procedures would be made available through its website and dedicated licensing-round portal.
The guidelines will also provide for greater transparency in the evaluation process, including publication of results and disclosure of the beneficial owners of participating companies.
Eyesan said the commission had identified more than 788,000 barrels per day of shut-in production across 63 operators as part of efforts to increase Nigeria’s oil output.
She also said offshore projects valued at between $30 billion and $50 billion were being targeted for final investment decisions.
The 2026 licensing round comes shortly after the conclusion of the 2025 exercise, in which 31 companies emerged winners of 37 oil and gas blocks.
NUPRC urged qualified Nigerian and international investors to participate in the latest exercise.
