Meren Energy pledges fresh investments as NUPRC plans Q3 2026 licensing round
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the 2026 licensing round will commence by the third quarter of 2026, following approval by Heineken Lokpobiri, the minister of petroleum resources, in line with the Petroleum Industry Act (PIA).
Oritsemeyiwa Eyesan, chief executive of NURPC, announced the development in Abuja on Wednesday during a meeting with Meren Energy at the commission’s headquarters.
Eyesan said the commercial bid for the 2025 licensing round is expected to take place in July, after which preparations for the 2026 round will begin.
She expressed satisfaction with the progress of the 2025 licensing round, noting that increased investment inflows and rising production levels reflect growing confidence in Nigeria’s oil and gas sector under President Bola Tinubu’s administration.
According to her, the developments show that ongoing reforms have made the upstream petroleum industry more attractive to investors.
Oliver Quinn, the group chief executive officer (GCEO) of Meren Energy, said recent reforms in the sector had strengthened the company’s commitment to expand its investments in Nigeria, including participation in asset divestments and licensing rounds.
Quinn said Meren Energy’s investment focus remains on Africa, with Nigeria ranking as its top priority.
He noted that the company has invested about $11 billion in the Agbami, Akpo and Egina fields over the past 20 years, and has also paid more than $4 billion in taxes and royalties.
