NUPRC to Launch 2026 Licensing Round by Q3 as Meren Energy Eyes Fresh Investments
The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this during a meeting with officials of Meren Energy at the NUPRC headquarters in Abuja on Wednesday.
According to Eyesan, preparations for the next licensing exercise are already underway even as the commission concludes the ongoing 2025 Licensing Round.
She expressed satisfaction with the conduct of the current round, noting that the commercial bid phase is scheduled to take place in July.
“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round,” Eyesan said.
“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.”
The NUPRC chief said the strong level of participation in the 2025 Licensing Round reflected growing investor confidence in Nigeria’s upstream petroleum sector.
She attributed the renewed interest to ongoing reforms in the oil and gas industry, adding that increasing investments and rising production levels indicated that Nigeria had become a more attractive destination for energy investors.
Eyesan said the sector’s recent performance demonstrated the impact of reforms being implemented under the administration of President Bola Tinubu.
Speaking during the visit, the Group Chief Executive Officer of Meren Energy, Oliver Quinn, said recent policy and regulatory reforms had encouraged the company to deepen its investment footprint in Nigeria.
He noted that the company was actively exploring opportunities arising from ongoing asset divestments and licensing rounds.
Quinn described Nigeria as the company’s top investment destination in Africa, citing its long-standing involvement in some of the country’s largest deepwater oil fields.
“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,
“Nigeria remains the core of our business today because of the quality of these assets.”
He added that Meren Energy was encouraging its partners in the assets to increase investment commitments and boost production levels.
Quinn also revealed that Meren Energy was the first company in Nigeria to supply crude oil to the Dangote Refinery and pledged to continue meeting its Domestic Crude Supply Obligation provided commercial terms remain favourable.
The planned launch of the 2026 Licensing Round comes as Nigeria seeks to attract more upstream investment, grow hydrocarbon production and strengthen its position as a leading oil and gas destination in Africa.
