NUPRC
The Nigerian Upstream Petroleum Regulatory Commission says the 2026 Licensing Round will commence in Q3 2026, following approval from the Minister of Petroleum Resources in line with the Petroleum Industry Act (PIA).
The Commission’s Chief Executive, Oritsemeyiwa Eyesan, stated this when Meren Energy visited the corporate headquarters of the NUPRC in Abuja on Wednesday.
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.
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.
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In his remarks, the Group CEO of 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, with Nigeria ranking number one.
He said the company has invested $11bn in Agbami, Akpo, and Egina fields in the last 20 years and has paid over $4bn in taxes and royalties.
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