By ebosele@hotmail.com
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 Licensing Round will commence no later than the third quarter of 2026 following the approval of the Minister of Petroleum Resources in line with the provisions of the Petroleum Industry Act (PIA).
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this when a delegation from Meren Energy paid a courtesy visit to the NUPRC corporate headquarters in Abuja on Wednesday.
Eyesan expressed satisfaction with the progress made in the ongoing 2025 Licensing Round, noting that the commercial bid phase is scheduled to take place in July, after which preparations for the 2026 Licensing Round will begin.
According to her, the increasing level of investment in Nigeria’s oil and gas industry, alongside rising crude oil production, reflects the growing attractiveness of the sector under the administration of President Bola Tinubu.
She stated that recent reforms and policy initiatives had improved investor confidence and created a more competitive environment for upstream petroleum operations.
Speaking during the visit, the Group Chief Executive Officer of Meren Energy, Dr. Oliver Quinn, said the ongoing reforms in Nigeria’s energy sector had encouraged the company to deepen its investments in the country.
Quinn noted that Meren Energy is actively exploring opportunities arising from asset divestments and future licensing rounds as part of its long-term growth strategy in Nigeria.
He revealed that Africa remains the company’s primary investment destination, with Nigeria occupying the top position in its continental investment portfolio.
According to him, Meren Energy has invested approximately $11 billion in the Agbami, Akpo, and Egina fields over the last two decades, while also contributing more than $4 billion in taxes and royalties to the Nigerian government.
Quinn reaffirmed the company’s commitment to expanding its footprint in Nigeria’s upstream sector, citing the country’s vast hydrocarbon resources, improving regulatory framework, and favourable investment climate.
The meeting underscored growing investor confidence in Nigeria’s oil and gas industry as the NUPRC continues efforts to attract capital, boost production, and maximise value from the nation’s hydrocarbon resources through transparent and competitive licensing rounds.
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