The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched the 2026 Nigerian Licensing Round, putting 40 oil and gas blocks up for investors.
NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, announced the licensing round on Wednesday in Abuja during the commission’s 55th anniversary celebration.
“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.
The 40 blocks span land, shallow water and deepwater terrains and are open to investors with the required technical expertise, financial capacity and commitment to developing Nigeria’s petroleum resources.
Eyesan said the latest licensing exercise followed the completion of the 2025 round, which attracted significant interest from local and international oil companies.
According to her, 143 companies submitted 200 bids in the 2025 round, with 31 companies emerging as winners of 37 blocks.
Frontier Basins Attract Investors
Eyesan said the 2025 exercise also showed growing investor interest in areas beyond the traditional producing regions of the Niger Delta.
She listed the Anambra Basin, Benue Trough, Chad Basin and Benin Basin among the frontier areas that attracted investor interest.
The NUPRC chief said the blocks offered in the 2025 round have the potential to add about 500 million barrels to Nigeria’s reserves.
She also said they are expected to contribute at least 300 million barrels per day of crude oil and condensates within five years, while adding about 20 trillion cubic feet (TCF) of gas reserves.
The blocks are further expected to support gas production of 20 billion standard cubic feet (scf) per day, Eyesan said.
NUPRC Records 57 Licence Awards
Eyesan said the commission has conducted three licensing exercises since its establishment.
They include the 2022 Deep Offshore Mini Bid Round, the 2024 Nigerian Licensing Round and the 2025 Nigerian Licensing Round.
According to her, the exercises have resulted in the award of 57 petroleum prospecting licences.
