Tag: NUPRC

Nigeria’s upstream sector is set for a fresh investment chapter as the NUPRC declared that the 2025 oil licensing round will officially commence on December 1, 2025. The announcement was made at the Project 1MMBOPD Additional Production Investment Forum in London by NUPRC Chief Executive Gbenga Komolafe, who said the move aligns with the Petroleum […]

Reforms in the oil and gas sector under President Tinubu’s administration have unlocked $18 billion in Final Investment Decisions (FIDs), according to NUPRC. Highlights include the $5 billion Bonga North deepwater project by Shell and ExxonMobil, alongside $3 billion in marginal field developments awarded to indigenous firms like Aradel Holdings. Komolafe attributed the surge to […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has emphasized that a newly signed Production Sharing Contract (PSC) with TotalEnergies marks a major turning point in Nigeria’s energy trajectory—specifically in its shift toward a gas-powered economy. Key Highlights: First PSC Under PIA with Gas Focus: The PSC between NNPCL, TotalEnergies, and Sapetro, covering 2,000 square kilometers […]