The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the 2026 Licensing Round will commence by Third Quarter (Q3) 2026, having received the Minister of Petroleum Resources approval, in line with the Petroleum Industry Act.
The Commission’s Chief Executive, Mrs Oritsemeyiwa Eyesan, said this when Meren Energy (formerly Africa Oil), visited the corporate headquarters of the NUPRC on Wednesday in Abuja.
Eyesan, in a statement expressed satisfaction with the conduct of the 2025 licensing round so far, adding that the commercial bid would take place in July after which the next licensing round would commence.
The NUPRC boss said the heightened participation in the 2025 licensing round was a testament to the fact that Nigeria was headed in the right direction.
She said the rise in investments coupled with the upswing in production was evidence that Nigeria’s oil and gas sector under the leadership of President Bola Tinubu had become attractive.
“We are also fortunate that the President and Minister of Petroleum Resources have approved the 2026 licensing round.
“So, we are in the process of finalizing the 2026 launch which will happen latest by the third quarter. So, this is the make or break point and we want to make sure we make it,” she said.
In his remarks, the Group CEO, Meren Energy, Dr Oliver Quinn, said that the current reforms had inspired the company to increase its investments in Nigeria hence its interest in asset divestments and licensing rounds.
Quinn revealed that Meren Energy’s investment priority is Africa of which Nigeria’s ranks is number one.
“We have operated in Agbami, Akpo and Egina world class fields. I think till date, in 20 years about 11 billion dollars in capital from our side has gone into these assets and about four billion dollars has gone to tax and royalties.
“Nigeria remains the core of our business today because of the quality of these assets.
“Meren Energy is pressuring its partners on these assets to deepen their investments and then increase overall production,” he said.
He said Meren Energy was the first company in Nigeria to sell crude oil to the Dangote refinery and the firm would continue to fulfill its Domestic Crude Supply Obligation so long as the price remains right.(NAN)
