NUPRC Opens 2026 Licensing Round in Q3 Amid Investors’ Confidence

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed the launch of the 2026 Licensing Round in the third quarter (Q3) of 2026, saying strong investor confidence underpins the move.

NUPRC chief executive, Oritsemeyiwa Eyesan, who made this known during a courtesy visit by Meren Energy management to the commission’s Abuja headquarters on Wednesday, said the bid round has received formal approval from the minister of Petroleum Resources in strict alignment with the provisions of the Petroleum Industry Act (PIA).

Transitioning from the 2025 Round

Expressing strong satisfaction with the progress of the ongoing 2025 Licensing Round, Eyesan revealed that the commercial bid phase is scheduled for July, paving the way for the immediate rollout of the 2026 cycle.

“We are fortunate that the President and Minister of Petroleum Resources have approved the 2026 Licensing Round,” Eyesan stated. “We are currently finalising the 2026 launch, which will happen latest by the third quarter. This is a make-or-break point, and we want to ensure we succeed.”

The NUPRC boss attributed the heightened global participation in the 2025 round to policy directions under President Bola Tinubu, noting that rising investments and an upswing in local production demonstrate that Nigeria’s oil and gas sector has regained its competitive edge.

In his remarks, the group CEO of Meren Energy, Dr Oliver Quinn, lauded the current regulatory reforms in the oil and gas sector, noting that they have inspired the company to scale up its investments in Nigeria, particularly through asset divestments and licensing rounds.

Quinn emphasised that Africa remains Meren Energy’s top investment priority, with Nigeria sitting firmly at the number one spot.

“We have operated in Agbami, Akpo and Egina world-class fields. I think till date, in 20 years, about $11bn in capital from our side has gone into these assets and about $4bn has gone to tax and royalties,” he said, adding, “Nigeria remains the core of our business today because of the quality of these assets.”

Quinn added that the company is actively pushing its partners to deepen investments to further drive up national production.

While revealing that Meren Energy was the first company in Nigeria to sell crude oil to the Dangote refinery, Quinn reaffirmed the company’s commitment to fulfilling its Domestic Crude Supply Obligation (DCSO), provided market-reflective pricing is maintained.