NUPRC urges new licence holders to quickly develop oil fields
The Nigerian Upstream Petroleum Regulatory Commission has called on recent winners of petroleum licences to rapidly develop their awarded assets. Oritsemeyiwa Eyesan, Chief Executive of the NUPRC, emphasized the need for strict compliance with the Petroleum Industry Act and high operational standards. Several companies were presented with licences during a signing ceremony attended by industry stakeholders. The Commission highlighted the importance of timely project execution to help Nigeria achieve its crude oil production goals.
What we know
- The NUPRC presented licences to companies including Biswal Oil and Gas Limited, Dewayles International Limited, First E&P Development Company Limited, Panout Oil and Gas Limited, R28 Holdings Limited, and Hakilat Oil and Gas Consortium.
- Broron Energy Limited, Petroli Energy Marketing and Supply Limited, Sahara Deepwater Resources Limited, and Tulcan Energy E&P had received their licences earlier on July 8, 2026.
- Oritsemeyiwa Eyesan stressed the importance of investment, compliance, and collaboration with host communities.
- The Commission warned that licences could be revoked if companies fail to commence work promptly.
- The NUPRC aims to support sustainable growth and increase Nigeria’s crude oil production through these licensing rounds.
