The Nigerian upstream petroleum regulatory Commission has reaffirmed the Commission’s committment to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via operationalisation of the Petroleum Industry Act, 2021 (PIA), and implementation of the strategic pillars of the Commission inline with its mandate.
The commission made this known on Wednesday in a press release while giving updates and an overview of Nigeria’s oil, condensate, associated gas, and non-associated gas reserves as of January 1st, 2026.
The presss statement indicate that within the period under review, 2P Crude Oil and Condensate reserves stood at 31.09 Billion Barrels and 5.92 Billion Barrels, respectively, amounting to a total of 37.01 Billion Barrels, while
2P Associated Gas (AG) and Non-Associated Gas (NAG) reserves on the other hand stood at 100.21 Trillion Cubic Feet (TCF) and 114.98 TCF, respectively, within same period, resulting in total Gas reserves of 215.19 TCF.
The Reserves Life Index according to the statement is 59 Years and 85 Years for Oil and Gas, respectively.
The reason for the slight change in 1.1.2026 oil and condensate reserves by 0.74% the press release declared is attributable to production in 2025 and reserves update due to field performance and technical evaluation based on subsurface studies.
The reason for the increase in 1.1.2026 AG and NAG reserves by 2.21% the statement further declared is largely based on discoveries and the result of robust reservoir studies.
Following the data provided, the authority chief, Oritsemeyiwa eyesan in furtherance of the provisions of Chapter 1, Part III, Section 7 (g), (i), (j), (k), (m), (q), (r) including other powers provided in the relevant sections empowering her subsequently used these sections to formally declare that the Total Oil and Condensate reserves stands at 37.01 Billion Barrels while Total Gas reserves stands at 215.19 Trillion Cubic Feet, thereby, making the figures as the official National Petroleum Reserves Position as of 1st January 2026.
