The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 Licensing Round will commence no later than the fourth quarter of 2026, following approval by the Minister of Petroleum Resources in accordance with the Petroleum Industry Act (PIA).
The Commission Chief Executive, Oritsemeyiwa Eyesan, disclosed this during a visit by Meren Energy to the NUPRC headquarters in Abuja on Wednesday.
Eyesan expressed satisfaction with the progress recorded in the ongoing 2025 Licensing Round, noting that the commercial bid phase is scheduled to take place in July. She explained that preparations for the next round were already underway to ensure a seamless transition.
According to her, the strong level of participation witnessed in the 2025 exercise demonstrates growing investor confidence in Nigeria’s upstream petroleum sector and reflects the positive impact of ongoing reforms.
“The response to the 2025 Licensing Round has shown that Nigeria is moving in the right direction. We are seeing increased investments and rising production, which are clear indications that the sector has become more attractive to investors,” she said.
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Eyesan added that approval had already been secured for the next round.
“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round. We are currently finalising arrangements for the launch, which will happen no later than the fourth quarter of this year. This is a critical milestone, and we want to ensure we get it right,” she stated.
Speaking during the visit, the Group Chief Executive Officer of Meren Energy, Oliver Quinn, said recent reforms in Nigeria’s oil and gas industry had encouraged the company to expand its investment footprint in the country, including participation in asset acquisitions and future licensing rounds.
Quinn described Nigeria as the company’s most important investment destination in Africa.
“Our investment priority is Africa, and Nigeria ranks number one. We have participated in world-class assets such as Agbami Field, Akpo Field and Egina Field. Over the last 20 years, we have invested about $11 billion in these assets, while approximately $4 billion has been paid in taxes and royalties,” he said.
“Nigeria remains at the core of our business because of the quality of its assets.”
Quinn further disclosed that Meren Energy is encouraging its partners to deepen investments in existing assets to boost production and unlock additional value.
He also highlighted the company’s role in supporting domestic refining, noting that Meren Energy was the first company in Nigeria to supply crude oil to the Dangote Refinery.
“We were the first company to sell crude oil to the Dangote refinery, and we will continue to meet our Domestic Crude Supply Obligation as long as commercial terms remain favourable,” he added.
