NUPRC Announces Licensing Round under the Petroleum Industry Act
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the next petroleum licensing round will commence in the third quarter of 2026, with the approval of President Bola Tinubu. This announcement was made by the Commission’s Chief Executive, Mrs. Oritumeiwa Isan, during a meeting with Melen Energy Limited, previously known as Africa Oil, at the NUPRC headquarters in Abuja.
Positive Outlook for Nigeria’s Oil and Gas Sector
Isan expressed optimism regarding the implementation of the ongoing 2025 licensing round, noting that commercial tenders are scheduled for July. She emphasized that the increased interest from industry stakeholders illustrates Nigeria’s growing attractiveness as an investment destination in the oil and gas sector under Tinubu’s administration. The director remarked that enhanced investment alongside rising production levels signals a positive trajectory for the industry.
Focus on the Upcoming Licensing Round
Isan stated, “We are fortunate that the President and the Minister of Petroleum Resources have approved the licensing round for 2026. We are finalizing deals for a launch expected to occur by the third quarter at the latest. This initiative is pivotal, and our commitment to its success remains strong.”
Melen Energy’s Commitment to Investment
Dr. Oliver Quinn, Group CEO of Melen Energy, highlighted that the current reforms would serve as a catalyst for increasing investment in Nigeria. The company’s primary focus remains on asset sales and involvement in upcoming licensing rounds, with Nigeria identified as a top priority in Africa.
Significant Contributions to Nigeria’s Economy
Quinn elaborated on Melen Energy’s extensive contributions to the Nigerian economy, emphasizing that over the past two decades, the company has invested approximately $11 billion in oil fields such as Agbami, Akpo, and Egina, with an additional $4 billion earmarked for taxes and royalties. He noted that Nigeria continues to hold strategic importance to Melen Energy due to the quality of the assets in the region.
Resumption of Normal Operations at NUPRC
In a related development, normal operations at the NUPRC have resumed following the cancellation of a one-day warning strike by workers represented by the Petroleum and Natural Gas Senior Officials Association of Nigeria (PENGASSAN) and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG). The strike, which lasted approximately 12 hours, only impacted internal operations, while regulatory oversight of oil and gas facilities across the country continued without interruption.
Management and Union Collaboration Post-Strike
The NUPRC confirmed in a statement that the strike was called off following successful negotiations between management and the two internal unions. The Commission reassured the public that core regulatory functions in the upstream oil sector remained intact despite minor disruptions during the strike.
Addressing Misleading Reports
Additionally, NUPRC refuted various media claims that the strike was related to disputes over foreign training opportunities, labeling such reports as inaccurate. The Commission reiterated its commitment to improving working conditions and enhancing employee benefits, encouraging the public to disregard misleading publications.
