NUPRC launches 2026 oil licensing round for Q3, approved by minister

NUPRC announces 2026 oil and gas licensing round will commence by Q3 2026, with minister approval under Petroleum Industry Act. The disclosure came after Meren Energy's visit to NUPRC headquarters in Abuja.

CEO Oritsemeyiwa Eyesan confirmed the timeline while receiving Meren's delegation. The announcement follows the ongoing 2025 licensing round, with commercial bid phase scheduled for July 2026 after successful pre-qualification stage completion in March.

Meren Energy's CEO Oliver Quinn highlighted Nigeria as their top African investment destination, noting $11 billion invested in Nigerian assets over 20 years and $4 billion in taxes and royalties. Meren was also first to sell crude to Dangote refinery.

The licensing round is a competitive process where government allocates exploration rights to companies. This signals growing confidence in Nigeria's oil sector under Tinubu's administration, with increasing investments and improved production levels.

For companies interested in participating, preparation should begin now for the Q3 2026 licensing round. With Meren's significant investment commitment, Nigeria appears to be an attractive destination for upstream operators seeking opportunities in Africa's largest oil market.

SOURCE: https://www.premiumtimesng.com/news/top-news/884978-nuprc-announces-2026-licensing-round.html