Tag: NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened the 2025 Licensing Round, offering 50 high-potential oil and gas blocks across onshore, shallow water, deepwater, and frontier basins in a bid to attract approximately $10 billion in new investments and add up to 400,000 barrels per day of crude oil production. Speaking at the […]

Nigeria is preparing to launch its 2025 oil and gas licensing round on 1 December 2025, marking the second consecutive annual bidding exercise and reinforcing the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) commitment to predictable, transparent upstream governance. Coming just one year after the highly praised fully digital 2024 round, the 2025 exercise is positioned […]

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has reiterated Nigeria’s position as the most attractive investment destination in Africa’s oil and gas sector, citing the country’s more than 37 billion barrels of proven crude oil reserves and its status as the continent’s largest producer. Speaking during a courtesy […]

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 […]