The Federal Government has formally launched the 2026 oil and gas licensing round, placing 40 blocks across onshore, shallow-water and deepwater acreage on offer to local and international investors. The exercise was unveiled in Abuja by Mrs Oritsemeyiwa Eyesan, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, during the regulator's fifth anniversary, and follows clearance from President Bola Tinubu, who also serves as Minister of Petroleum Resources.
The round is positioned as a capital-attraction drive for Nigeria's upstream sector at a time when global competition for energy investment has intensified. According to the NUPRC, prospective bidders must demonstrate technical competence, financial strength and a commitment to developing the country's petroleum resources.
Eyesan said the process would incorporate measures aimed at strengthening transparency and improving Nigeria's competitiveness for capital. "Competition for upstream capital is fierce. Investors go where rules are clear, processes are predictable and data can be trusted," she said.
As part of the transparency measures, bidders will be required to disclose their beneficial owners, and the commission will publish the full evaluation results of the exercise. The regulator also credited recent presidential directives with shortening contracting cycles and giving investors greater fiscal certainty.
The 40 blocks cover land, shallow water and deepwater terrains. Qualified companies compete by submitting technical and financial proposals against criteria set by the regulator, and successful bidders are subsequently awarded rights to develop the blocks subject to applicable regulatory and contractual requirements.
The 2026 round follows the 2025 licensing exercise, in which 31 companies emerged as winners of 37 oil and gas blocks. Successful bidders in that round included SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF and Gupsco Energy Limited. Other winners included Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited and Riparian Development and Production Limited.
