NUPRC has launched Nigeria’s 2026 licensing round, offering 40 oil and gas blocks across land, shallow water and deepwater terrains.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched its 2026 licensing round, offering 40 oil and gas blocks across land, shallow water and deepwater terrains to qualified investors.
NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, announced the opening on Wednesday in Abuja during the commission’s 55th anniversary celebration, following the completion of the 2025 licensing exercise.
40 Blocks Open To Investors
“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,” Eyesan said.
“This round offers 40 blocks across land, shallow water and deepwater terrains. I can see my IOC is already permuting. They are open to investors with the technical competence, financial capability and, above all, the commitment to develop Nigeria’s petroleum resources.”
Eyesan said the latest round followed the completion of the 2025 licensing exercise, which attracted significant interest from both local and international oil companies.
According to her, 143 companies submitted 200 bids during the 2025 round, while 31 companies emerged as winners of 37 blocks.
Frontier Basins Attract Investor Interest
Eyesan said the 2025 exercise also reflected growing investor interest beyond Nigeria’s traditional producing areas in the Niger Delta.
She identified the Anambra Basin, Benue Trough, Chad Basin and Benin Basin among the frontier areas that attracted investors during the exercise.
The NUPRC CEO said the blocks offered in the 2025 round have the potential to increase Nigeria’s oil and gas reserves and production.
“They have the potential to add about 500 million barrels of reserves and expected to contribute at least 300 million barrels per day of crude oil and condensates within the next five years,” she said.
Eyesan added that the projects are also expected to increase gas reserves and production.
“They are also expected to add 20 trillion cubic feet (TCF) of gas reserves and 20 billion standard cubic feet (scf) of gas per day in support of our decade of gas,” she said.
57 Petroleum Prospecting Licences Awarded
Eyesan said NUPRC had conducted three licensing exercises since its establishment, including the 2022 deep offshore mini bid round, the 2024 Nigerian licensing round and the 2025 Nigerian licensing round.
She said the exercises had resulted in the award of 57 petroleum prospecting licences as the commission continues to attract investment into Nigeria’s upstream petroleum sector.
