FG Opens 2026 Oil Licensing Round, Offers 40 Blocks to Investors

The Federal Government has opened the 2026 oil and gas licensing round, offering 40 blocks across land, shallow water and deepwater terrains to local and foreign investors.

The Federal Government has opened the 2026 oil and gas licensing round, offering 40 blocks across land, shallow water and deepwater terrains to local and foreign investors.

The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, announced the licensing round in Abuja during the commission’s fifth anniversary, according to the News Agency of Nigeria (NAN).

Eyesan said the round had received the approval of President Bola Tinubu, who is also Minister of Petroleum Resources, as the government seeks to attract capital into Nigeria’s upstream oil and gas sector.

Nigeria offers 40 oil blocks

The 2026 licensing round is open to investors with the technical competence, financial strength and commitment required to develop Nigeria’s petroleum resources.

Eyesan said the process would introduce measures designed to strengthen transparency and help Nigeria compete for investment in a tightening global market.

• “The measures are meant to help Nigeria compete for capital in a tightening global market,” she said.
• “Competition for upstream capital is fierce. Investors go where rules are clear, processes are predictable and data can be trusted,” she said.

She said investors participating in the bidding process will be required to disclose their beneficial owners. The commission will also publish the full evaluation results of the bidding process, the regulator noted.

Eyesan also credited presidential directives with shortening contracting cycles and providing investors with greater fiscal certainty.

Oil licensing targets global capital

The 40 blocks being offered cover land, shallow water and deepwater terrains, providing opportunities for investors with the required technical and financial capacity.

• The NUPRC conducts licensing rounds through which qualified companies compete for available oil and gas assets by submitting technical and financial proposals against criteria set by the regulator.
• Successful bidders are subsequently awarded rights to develop the blocks, subject to applicable regulatory and contractual requirements.

The latest round, the regulator stated, is therefore designed to attract investors while making ownership and bid evaluation more transparent.

2025 oil round produces 31 winners

The new licensing round follows the 2025 process, in which 31 companies emerged winners of 37 oil and gas blocks after a competitive bidding exercise.

• The winning companies included SSonic Petroleum Limited, CFP Pipeline and Flowlines, Dutchford E&P Limited, Attabanson Global Company Limited, Rosem Energy Limited, Pivot-GIS Limited, Network E&P, Asharami, LexOil, BVOF and Gupsco Energy Limited.
• Other successful bidders included Saratoga, Volante, Concept-Reel Petroleum Services Limited, Clinton Oil Field, Nuway Oaklane Limited, Ramec, Italia, Blueridge E&P, Up Energies Limited, AYM Shafa, Blackrock Holdings Limited, Funtay Integrated Business Limited and Riparian Development and Production Limited.
• Nikstallis, Stardeep Petroleum, Dakoda & U Limited, Southborne Oil and Gas Limited, Lanaka Petroleum, Highban Resources Limited and Eyre Energy Limited were also among the winners.
• The 2025 round attracted bids across established terrains and frontier basins.
• The Niger Delta Onshore accounted for 16 blocks, while the Niger Delta Shallow Water had 18 blocks.
• The Niger Delta Deep Offshore had one block, while the Benin Basin Onshore had three.

The 2025 offering also covered frontier areas including the Benue Trough, Chad Basin and Anambra Basin, reflecting the broader geographic spread of Nigeria’s upstream licensing programme.