The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the 2026 Licensing Round will commence no later than the third quarter of 2026, following approval from the Minister of Petroleum Resources in accordance with the Petroleum Industry Act.
NUPRC Chief Executive Highlights Progress
Mrs. Oritsemeyiwa Eyesan, the Commission Chief Executive, made this announcement during a visit by Meren Energy (formerly Africa Oil) to the NUPRC headquarters in Abuja. She expressed satisfaction with the 2025 Licensing Round, noting that the commercial bid is scheduled for July, after which the next licensing round will begin.
Eyesan attributed the heightened participation in the 2025 round to Nigeria's positive direction under President Bola Tinubu's leadership. She stated that increased investments and rising production demonstrate the growing attractiveness of Nigeria's oil and gas sector.
“We are fortunate that the President and Minister of Petroleum Resources have approved the 2026 Licensing Round,” Eyesan said. “So, we are in the process of finalising the 2026 launch which will happen latest by the third quarter. This is the make or break point, and we want to make sure we make it.”
Meren Energy Commits to Nigeria
Dr. Oliver Quinn, Group CEO of Meren Energy, noted that current reforms have encouraged the company to boost its investments in Nigeria, particularly in asset divestments and licensing rounds. He revealed that Africa is Meren Energy's investment priority, with Nigeria ranking first.
“We have operated in Agbami, Akpo, and Egina world-class fields,” Quinn said. “To 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.” He added, “Nigeria remains the core of our business today because of the quality of these assets.”
Quinn stated that Meren Energy is urging its partners to deepen investments and increase overall production. He also highlighted that Meren Energy was the first company in Nigeria to sell crude oil to the Dangote Refinery and will continue to fulfill its Domestic Crude Supply Obligation as long as the price remains favorable.
