NIGERIA OPENS NEW OIL FRONTIER: NUPRC GREENLIGHTED TO LAUNCH 2026 LICENSING ROUND IN Q4
GREATRIBUNETVNEWS–MINISTERIAL nod sets stage for next wave of upstream investment
Key Issues:
1. 2026 Licensing Round Approved to Kick Off in Q4
_”The Minister of Petroleum Resources has given the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) nod to commence the 2026 Licensing Round in the fourth quarter of this year.”
2. Announcement Made During Meren Energy Visit
_”The Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this when Meren Energy (formerly Africa Oil), visited the corporate headquarters of the NUPRC in Abuja.”
3. 2025 Round Nearing Commercial Bids*
_”Eyesan, who expressed satisfaction with the conduct of the 2025 Licensing Round so far, said that the commercial bid would take place in July after which the next licensing round would commence.”
She said the heightened participation in the 2025 Licensing Round was a testament to the fact that Nigeria was headed in the right direction.
According to her, the rise in investments coupled with the upswing in production was evidence that Nigeria’s oil and gas sector under the leadership of President Bola Tinubu had become attractive.
Eyesan added:“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round.
“So, we are in the process of finalising the 2026 launch which will happen latest by the third quarter. So, this is the make or break point and we want to make sure we make it.”
Speaking, the Group CEO, Meren Energy, Dr. Oliver Quinn, stated that the current reforms had inspired the company to increase its investments in Nigeria hence its interest in asset divestments and licensing rounds.
He revealed that Meren Energy’s investment priority is Africa of which Nigeria ranks is number one.
“We have operated in Agbami, Akpo and Egina world class fields. I think till date, in 20 years about $11bn in capital from our side has gone into these assets and about $4bn has gone to tax and royalties,” he said, adding, “Nigeria remains the core of our business today because of the quality of these assets.
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