NUPRC reveals plans for 2026 oil and gas licensing round

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that the 2026 oil and gas licensing round will start in the third quarter of 2026. This follows approval from the Minister of Petroleum Resources.

The commission shared this news in a statement on Wednesday after Meren Energy, which was previously known as Africa Oil, visited its office in Abuja.

NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, shared the timeline while welcoming the delegation. The statement noted, "The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the 2026 Licensing Round will commence latest by Q3 2026, having received the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act."

Mrs Eyesan expressed her happiness with how the ongoing 2025 Licensing Round is going. She mentioned that the commercial bid phase is set for July, and preparations for the next round will start soon after.

What is a licensing round?

A licensing round is a competitive process where governments give oil and gas exploration and production rights to companies. This announcement comes just months after the NUPRC, led by its former Chief Executive, Gbenga Komolafe, launched the 2025 licensing round. That round begins on December 1, 2025.

At that launch, Mr Komolafe said the commission aimed to solve funding issues in the upstream sector by improving teamwork among stakeholders. He noted, "One of the factors that affected business is that activities were happening in silos, but the NUPRC now realizes the need to bring everyone together."

In January, to prepare for the 2025 process, the commission invited global energy investors, upstream operators, financial institutions, and strategic partners to a webinar. This was ahead of the bid process.

In March, the NUPRC announced that the pre-qualification stage was complete. This allowed successful applicants to access and lease important geological and technical data needed for their technical and commercial bid submissions. The commission stated, "With the pre-qualification stage now successfully completed, the Commission will, from today, March 17, 2026, permit successful applicants to lease data in preparation for the technical and commercial bid submissions."

The regulator added that applicants could only get data from approved channels and must show proof of payment before making bids. On Wednesday, Mrs Eyesan said that more companies joining the 2025 licensing round shows trust in Nigeria’s oil and gas sector.

She linked this to increasing investments, better production levels, and reforms from President Bola Tinubu’s administration. She said, "We are also fortunate that the President and Minister of Petroleum Resources have approved the 2026 Licensing Round."

Mrs Eyesan added, "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."

Meren Energy's view

Meren Energy Group CEO, Oliver Quinn, also spoke on the topic. He said reforms in Nigeria’s oil and gas sector have pushed the company to invest more and take part in asset acquisitions and licensing opportunities. Mr Quinn mentioned that Nigeria is Meren Energy’s top investment spot in Africa.

He said, "We have operated in Agbami, Akpo and Egina world-class fields. I think till date, in 20 years, about $11 billion in capital from our side has gone into these assets, and about $4 billion has gone to tax and royalties."

Mr Quinn added, "Nigeria remains the core of our business today because of the quality of these assets." He also said the company is urging its partners to increase investments in existing assets to raise production levels.

Mr Quinn mentioned that Meren Energy was the first in Nigeria to sell crude oil to the Dangote refinery. He said they would keep meeting their Domestic Crude Supply Obligation, as long as the commercial terms are good.