The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the 2026 Licensing Round will commence latest by Q3 2026 having received the approval of the Minister of Petroleum Resources in line with the Petroleum Industry Act.
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, stated this when Meren Energy (formerly Africa Oil), visited the corporate headquarters of the NUPRC in Abuja on Wednesday, June 3, 2026.
Eyesan, who expressed satisfaction with the conduct of the 2025 Licensing Round so far, stated that the commercial bid would take place in July after which the next licensing round would commence.
The NUPRC boss said the heightened participation in the 2025 Licensing Round proves to the fact that Nigeria was already working in the right direction.
She said the rise in investments coupled with the upswing in production was evidence that Nigeria’s oil and gas sector under the leadership of President Bola Tinubu had become attractive.
Eyesan stated, “We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round.
“So, we are in the process of finalising the 2026 launch which will happen latest by the third quarter. So, this is the make or break point and we want to make sure we make it.”
In his remarks, the Group CEO, Meren Energy, Dr. Oliver Quinn, stated that the current reforms had inspired the company to increase its investments in Nigeria hence its interest in asset divestments and licensing rounds.
Quinn revealed that Meren Energy’s investment priority is Africa of which Nigeria ranks number one.
“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.”
According to Quinn, Meren Energy is pressuring its partners on these assets to deepen their investments and then increase overall production.
He said Meren Energy was the first company in Nigeria to sell crude oil to the Dangote refinery and the firm will continue to fulfil its Domestic Crude Supply Obligation so long as the price remains right
