“FRESH DRILLING SEASON”: SAHARA DEEPWATER, 11 OTHERS BAG 19 PPLs AS NUPRC OPENS NIGERIA’S OIL FRONTIER
GREATRIBUNETVNEWS–THE Nigerian Upstream Petroleum Regulatory Commission has signed off on the next phase of Nigeria’s upstream push.
12 companies, including Sahara Deepwater Resources, have been issued Petroleum Prospecting Licences from the 2024 Bid Round — 19 blocks in total — as Abuja moves to pull in fresh capital and get rigs drilling faster.
The licences were handed out Wednesday at NOG Energy Week 2026.
“To attract new investment and speed up oil exploration” — 12 firms get deep offshore, shallow water and shelf blocks
Bottom Line:
19 new PPLs. 12 winners. Deepwater to shelf. NUPRC says the 2024 round is about one thing: new money in, new wells out.
The Key Issues, In Full Quotations:
1. Official Licence Issuance
“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued Petroleum Prospecting Licences (PPLs) to winners of the 2024 Licensing Round.”
2. Companies Named
“Companies that received licences include Boron Energy Limited, Energy Marketing and Supply Limited, Sahara Deepwater Resources Limited, and Tulkan Energy E&P Company Limited.”
3. Other Awardees
“Eight other firms also got licences.”
4. NUPRC’s Objective
“NUPRC said the move is to attract new investment and speed up oil exploration in Nigeria.”
5. Scale and Coverage of Awards
“The presentation ceremony, held on Wednesday on the sidelines of the Nigeria Oil and Gas (NOG) Energy Week 2026, covered 12 successful awardees across 19 petroleum prospecting licences spanning deep offshore, shallow water and continental shelf acreages”
Besides, the execution of the concession contracts provides the legal, fiscal and commercial framework for the licence holders under the Petroleum Industry Act (PIA) 2021, clearing the way for the formal issuance of the petroleum prospecting licences.
The development represents another milestone in Nigeria’s drive to attract fresh capital into the upstream petroleum sector, deepen exploration activities, expand hydrocarbon reserves and generate long-term economic value.
The broad mix of acreages awarded underscores the range of investment opportunities available across Nigeria’s upstream petroleum landscape.
The commission expects increased exploration activities, higher production potential and stronger investor confidence in Nigeria’s regulatory and investment environment.
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