The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed the 2026 oil and gas licensing round will start in the third quarter of 2026. Chief Executive Oritsemeyiwa Eyesan announced the timeline during a meeting with Meren Energy in Abuja on June 3.
Eyesan said the minister of petroleum resources has already approved the round under the Petroleum Industry Act. She linked investor confidence to recent reforms and rising production levels under President Bola Tinubu. The 2025 licensing round is now in its commercial bid phase, set for July.
Meren Energy, formerly Africa Oil, revealed it has invested $11 billion in Nigerian assets like Agbami, Akpo and Egina over 20 years. Group CEO Oliver Quinn said Nigeria remains its top African priority. The company was the first to supply crude to the Dangote refinery and will keep meeting domestic supply obligations.
The NUPRC also resolved a one-day strike by PENGASSAN and NUPENG workers. The unions suspended the action after management addressed their concerns. Regulatory oversight continued uninterrupted during the brief stoppage.
Eyesan stressed the 2026 round aims to sustain momentum in the upstream sector. The commission will finalise launch details in the coming months while ensuring transparency in the bid process.
