The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the 2026 Licensing Round, offering 40 oil and gas blocks across land, shallow water, and deep water terrains. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, made the announcement at the 5th anniversary ceremony of the NUPRC in Abuja on October 2, 2026. The blocks are open to investors with the technical competence, financial capacity, and commitment to develop Nigeria's petroleum resources.
The 2026 licensing round is a significant step towards boosting Nigeria's oil production, which has been impacted by various challenges. According to Mrs. Eyesan, the Commission's focus will be on restoring the more than 788,000 barrels per day of shut-in production identified across 63 operators. The NUPRC also aims to take offshore projects valued at an estimated $30 billion to $50 billion to final investment decision and raise domestic gas delivery from about two-thirds of the domestic obligation to full delivery.
The NUPRC has assured investors that the guidelines for the 2026 licensing round will be transparent and comprehensive, providing for fuller publication of results and requiring disclosure of the beneficial owners of every bidder. In line with the counsel of the Nigeria Extractive Industries Transparency Initiative (NEITI), the Commission will publish full details of the blocks on offer, qualification requirements, and procedures for participation on its website and dedicated licensing round portal.
The announcement has been welcomed by industry stakeholders, who see it as a positive step towards attracting investment and boosting Nigeria's oil production. The event was attended by high-ranking government officials, including President Bola Ahmed Tinubu, who was represented by Vice President Kashim Shettima. The OPEC Governor for Nigeria, Mr. Ademola Adeyemi Bero, delivered a lecture at the event, which was also attended by heads of government agencies and captains of industry.
The NUPRC has also used the opportunity to highlight its achievements over the past five years, including the implementation of the Petroleum Industry Act and executive orders issued by President Bola Tinubu. The Commission has honoured past directors of the defunct Department of Petroleum Resources (DPR) as well as the pioneer leadership of the NUPRC and former leaders of the National Assembly who played pivotal roles in the passage of the PIA.
The 2026 licensing round is expected to attract significant interest from investors, with the NUPRC inviting qualified Nigerian and international investors to participate. The Commission has assured investors that it will provide a level playing field for all bidders, with the best bids winning the blocks on offer. The event also saw the unveiling of a special edition of the NUPRC's in-house magazine, 'The Upstream Gaze', and a documentary detailing the journey of the Commission over the past five years.
The NUPRC's announcement is a significant step towards achieving Nigeria's oil production targets and attracting investment to the sector. With the 2026 licensing round, the Commission aims to create new opportunities for investors and boost Nigeria's oil production. The event was a testament to the Commission's commitment to transparency and accountability in the upstream petroleum sector.
Key points
- The NUPRC's 2026 licensing round offers 40 oil and gas blocks across land, shallow water, and deep water terrains to investors.
- The Commission aims to restore over 788,000 barrels per day of shut-in production and take offshore projects valued at $30 billion to $50 billion to final investment decision.
- The guidelines for the licensing round will provide for transparency and disclosure of beneficial owners of every bidder.
