Investors targeting Nigeria's upstream petroleum industry will gain access to the 2026 oil and gas licensing round bid portal from November 20, when the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) opens applications for 40 blocks available to local and international participants.
The date was announced by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, according to a statement signed by Eniola Akinkuotu, Head of Media and Corporate Communications.
During a roundtable discussion titled 'Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security', Eyesan urged investors to consider Nigeria's upstream sector, describing the country as an attractive destination despite global energy market uncertainties.
She pointed to improvements in the regulatory environment, fiscal incentives and security as factors supporting the new licensing round. She added that the government has put in place a fiscal framework and introduced incentives designed to help investors manage costs and reduce operational risks.
The investment climate has been shaped partly by the Petroleum Industry Act (PIA), enacted in 2021, and executive orders signed by President Bola Tinubu. According to Eyesan, the NUPRC has conducted at least four licensing rounds between 2021 and 2026, marking a shift from the period before the PIA when licensing rounds were less frequent.
She said Nigeria is also working to address the concerns investors typically weigh when committing capital, including project execution risks, costs, delays and regulatory uncertainty.
On gas, Eyesan highlighted Nigeria's estimated 215 trillion cubic feet of reserves, with daily production of about 7 billion cubic feet. She said recently completed infrastructure projects are expected to improve gas supply within Nigeria and the wider region.
The proposed Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline were identified as projects that could widen access to Nigerian gas across regional and international markets, including Europe, while supporting domestic supply.
