NUPRC Approves $57bn Upstream Projects, Seeks Faster Production

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved more than $57 billion worth of upstream field development projects since 2024 as it seeks to accelerate the conversion of investment commitments into actual oil and gas production.

The Commission said it was focused on creating greater regulatory certainty for investors while ensuring that approved projects progressed from the planning stage to execution.

The chief executive of NUPRC Oritsemeyiwa Eyesan, disclosed this in Abuja while speaking at during the Association of Energy Correspondents, Abuja FCT (AECAF), Annual Conference,

Eyesan, who was represented by the director of Surface Development at the NUPRC, Joseph Ogunsola, said the Commission’s mandate under the Petroleum Industry Act involved both facilitating investment and ensuring that approved developments complied with regulatory, environmental and host-community requirements.

She said the priority was to reduce the time between project approval and production without weakening the checks required to protect investors, host communities and the environment.

The NUPRC said Nigeria still had significant upstream potential, citing proved and probable reserves of 37.01 billion barrels of oil and condensate and 215.19 trillion cubic feet of gas as of January 1, 2026.

According to the Commission, the reserves provide a strong foundation for additional investment in the country’s oil and gas industry.

On the energy transition, Eyesan said the NUPRC was implementing measures aimed at keeping Nigerian upstream assets competitive while reducing emissions and managing long-term liabilities.

She listed the Upstream Petroleum Decarbonisation Template, the 2023 regulations on gas flaring, venting and methane emissions, and the 2026 Decommissioning and Abandonment Regulations among the measures already in force.

The decommissioning regulations require operators to plan and finance the eventual closure of petroleum assets from the outset, rather than leaving abandonment liabilities until the end of a project’s life.

Eyesan also linked the Commission’s upstream approvals to Nigeria’s plans to expand domestic gas supply and exports.

She said the success of gas commercialisation projects would depend partly on factors outside the NUPRC’s direct control, including pipeline capacity, credible offtakers and reliable payment systems.

She also noted that payment challenges, particularly among domestic power generators, remained a risk to the development of the gas market.

According to her, the Commission’s performance should ultimately be judged by outcomes rather than the number of approvals issued.

She listed reliable energy supply, increased public revenue and benefits reaching host communities without environmental damage as the key measures of success.