The Nigerian Upstream Petroleum Regulatory Commission has charged winners of the 2022/2023 Mini Bid Round and the 2024 Licensing Round swiftly develop their newly awarded petroleum assets, warning that licences must not become dormant if Nigeria is to achieve its crude oil production targets.
Companies presented with their licences at Friday’s ceremony included 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.
Speaking on Friday during the Petroleum Prospecting Licence signing ceremony in Abuja, the Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, said the award of licences marked only the beginning of a long-term commitment that requires substantial investments, strict compliance with the Petroleum Industry Act, environmental responsibility and meaningful engagement with host communities.
She said the successful completion of the post-award process represented another milestone in implementing the Petroleum Industry Act and strengthening Nigeria’s upstream regulatory framework.
