The Nigerian Upstream Petroleum Regulatory Commission has opened 40 oil and gas blocks for bidding in its 2026 licensing round.
Commission Chief Executive, Oritsemeyiwa Eyesan, announced the round on Tuesday in Abuja at the 5th anniversary of the NUPRC themed From Uncertainty to Stability: Unlocking the Next Phase of Investment.
According to a statement on Wednesday by Head of Media and Corporate Communications, Eniola Akinkuotu, Eyesan said the round has the approval of President Bola Ahmed Tinubu who is also Minister of Petroleum Resources.
She said the 40 blocks cut across onshore, shallow water and deep water terrains and are open to investors with technical competence, financial capacity and commitment to develop Nigeria’s petroleum resources.
Eyesan said in line with advice from the Nigeria Extractive Industries Transparency Initiative, the guidelines for the 2026 round will spell out the evaluation methodology, provide for fuller publication of results and require disclosure of beneficial owners of every bidder.
She added that full details of the blocks, qualification requirements and participation procedures will be published in the coming days on the Commission’s website and the dedicated licensing round portal.
She invited qualified Nigerian and international investors to participate and compete with their best ideas, partners and bids.
Speaking on plans to boost production, Eyesan said licensing will be regular and predictable, with focus on restoring over 788,000 barrels per day of shut in production identified across 63 operators, taking offshore projects valued at 30 billion to 50 billion dollars to final investment decision and raising domestic gas delivery from about two thirds of the domestic obligation to full delivery.
She noted that the upstream sector has witnessed positive changes in the last five years due to transparency and predictability brought by the Petroleum Industry Act and executive orders issued by President Tinubu.
The anniversary event featured honours for past directors of the defunct Department of Petroleum Resources, pioneer leadership of NUPRC and former leaders of the National Assembly who contributed to passage of the PIA, including former Senate President Ahmad Lawan and former Speaker Femi Gbajabiamila.
The Commission also unveiled a special edition of its in house magazine, The Upstream Gaze, and a documentary on its five year journey.
President Tinubu, represented by Vice President Kashim Shettima, attended the event where OPEC Governor for Nigeria, Ademola Adeyemi Bero, delivered the lecture. Also present were Chairman Senate Committee on Gas, Senator Agom Jarigbe, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Chairman NUPRC Board, Senator Magnus Abe, Group Chief Executive Officer of NNPC Ltd, Bayo Bashir Ojulari, heads of government agencies and industry leaders.
