2025 licensing round may add 300,000bpd to oil output — NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says assets offered in its 2025 licensing round could add about 500 million barrels to Nigeria’s crude oil reserves and 300,000 barrels per day (bpd) to production within five years.
The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, said this in a speech delivered at the 2026 Energy Conference organised by the Association of Energy Correspondents of Nigeria (NAEC) on Thursday in Lagos.
Eyesan, who was represented by the commission’s Head of Corporate Communications and Media, Lagos Office, Mrs Temisan Olatunde, said the assets could contribute at least 300,000 bpd of crude oil and condensate within five years, subject to successful development.
She said the projected output would support Nigeria’s ambition to produce three million barrels of crude oil per day by 2030.
“Subject to successful development, the assets offered in the 2025 round have the potential to add about 500 million barrels to our crude oil reserves.
“They are expected to contribute at least 300,000 barrels per day of crude oil and condensate within the next five years,” she said.
Eyesan said the commission had conducted licensing rounds in 2022/23, 2024 and 2025, with the 2026 round now launched.
She said the rounds were aimed at deepening exploration, creating jobs, increasing production and boosting government revenue.
According to her, the 2025 licensing round also generated strong investor interest in Nigeria’s frontier basins.
She listed the Anambra and Benin basins among areas that attracted investor attention beyond the Niger Delta.
“That tells me the world is looking at the geology of Nigeria, not only the Niger Delta,” she said.
Eyesan said the commission was providing technical data to help investors evaluate assets and make informed investment decisions.
She said the NUPRC would apply published criteria consistently to ensure a level playing field for eligible Nigerian and international investors.
She added that the commission would use its licensing portal, virtual data room, webinars and helpdesk to improve communication with investors.
Eyesan said the commission was also accelerating upstream approvals to support increased drilling and production.
According to her, at least 77 wells had been successfully re-entered, while 128 wells were approved for drilling in 2026.
She said the success of the licensing programme would depend on the development of awarded assets and the investments required to bring them into production.
Eyesan said the commission remained committed to transparent and predictable licensing processes to attract investment into Nigeria’s upstream sector.
Earlier, the Conference Chairman and Group Managing Director of Sahara Power Group, Dr Kola Adesina, said access to energy assets must translate into productive economic activity.
Adesina urged investors to focus on how assets could create sustainable value rather than merely securing ownership.
He said reliable energy could support manufacturing, logistics and other economic activities around investments.
The conference had the theme, “Access to Assets: Empowering Players and Driving Growth.”
