Nigeria has launched its 2026 oil and gas licensing round, offering 40 blocks spanning onshore, shallow-water and deepwater areas as the country seeks new investment and higher production.
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive Oritsemeyiwa Eyesan announced the round following approval from President Bola Tinubu, with Nigerian and international investors eligible to compete for the acreage.
“The round offers 40 blocks across land, shallow water and deep water terrains. They are open to investors with the technical competence, the financial capacity and, above all, the commitment to develop Nigeria's petroleum resources,” Eyesan said.
The regulator plans to publish details of the blocks, qualification requirements and participation procedures in the coming days.
Guidelines for the round will set out the evaluation methodology, provide for fuller publication of results and require bidders to disclose their beneficial owners.
The licensing round forms part of broader efforts to raise Nigerian oil and gas production, including restoring more than 788,000 barrels per day of shut-in production identified across 63 operators.
NUPRC is also targeting progress towards final investment decisions on offshore projects valued at an estimated $30 billion to $50 billion and plans to increase domestic gas deliveries from about two-thirds of the domestic obligation to full delivery.
“Our licensing will be regular and predictable. Our focus will be on what moves the numbers: restoring the more than 788,000 barrels per day of shut-in production identified across 63 operators; taking offshore projects valued at an estimated $30 billion to $50 billion to final investment decision; and raising domestic gas delivery from about two-thirds of the domestic obligation to full delivery,” Eyesan added.
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