NUPRC opens bidding for 40 oil, gas blocks Nov 20

By Obas Esiedesa, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that bidding for 40 oil and gas blocks under its 2026 licensing round will commence on November 20. The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, disclosed this on Monday during a roundtable discussion at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi. The discussion was titled, “Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security. ” In a statement by the Commission, Eyesan urged international investors to take advantage of opportunities in Nigeria’s oil and gas industry, saying improved security, attractive fiscal terms and incentives had made the country more competitive.

She said the Commission would open its bid portal on November 20 and expressed optimism that the investment conditions would attract interested investors. “We are expecting investors to turn to Nigeria. We are going in for another licensing round and we will be launching our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive. “We have set a very attractive fiscal framework for investors. The entire environment is a lot more secure. We have been able to manage costs with a lot of incentives for investors and we expect to see investors take up the offer when we open the portal,” she said. Eyesan attributed the improvement in Nigeria’s investment climate to the Petroleum Industry Act (PIA), enacted in 2021, and executive orders signed by President Bola Tinubu. She said the Commission had conducted at least four successful licensing rounds between 2021 and 2026, attracting investments into the country’s oil and gas industry. According to her, the development marked a…