Oil & Gas
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged new Petroleum Prospecting Licences (PPLs) holders to fast-track asset development and engage host communities in line with the Petroleum Industry Act (PIA).
The Chief Executive of NUPRC, Mrs Oritsemeyiwa Eyesan, made the call in a statement
on in Abuja.
According to the statement, Eyesan spoke at the signing ceremony of the second batch of winners of the 2022/2023 Mini Bid Round and the 2024 Licensing Round.
She urged licence holders to prioritise host community obligations in order to succeed.
“As licencees, you are expected to execute your approved work programmes diligently, honour your financial commitments, comply fully with the provisions of the PIA, the applicable regulations and contractual documents.
“The Commission equally expects the highest standards of health, safety, environmental protection and responsible engagement with host communities,” she said.
She said that the licencees awarded under the 2022/23 mini bid round and the Nigeria 2024 licencing round were expected to stimulate exploration activities, attract additional investment and accelerate the development of Nigeria’s hydrocarbon resources.
According to her, this will contribute meaningfully to the nation’s energy security and economic development.
“These objectives are aligned with the Federal Government’s aspiration to increase Nigeria’s crude oil production to two million barrels per day (mbpd) by 2027.
“They will also position the country to achieve a long-term production target of 3mbpd by 2030,” she said.
In his presentation, the Executive Commissioner, Development and Production, Mr Enorense Amadasu, urged the awardees to adhere to their work programmes and commitments.
Amadasu said the commission had begun to speed up approvals for permits in order to improve the ease of doing business.
He said that the Commission was ready to give them full support and enable them to succeed.
Also speaking, NUPRC’s Secretary and Legal Adviser, Mr Olayemi Adeboyejo, advised the new awardees to develop their assets or risk losing them in line with the “drill or drop” provision backed by the PIA.
Adeboyejo also urged the awardees to set up their respective Host Community Development Trust (HCDT) as quickly as possible.
He advised them to embrace alternative dispute resolution and less of litigation in order to ensure a harmonious relationship with both operators and regulators.
Companies that were presented with licences at the venue include: Biswal Oil and Gas Ltd, Dewayles International Ltd, First E&P Development Co.Ltd, Panout Oil and Gas Ltd, R28 Holdings Ltd. 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. (NAN)
A.I
July 18, 2026
Tags: Gas Ltd Mr Enorense Amadasu Mr Olayemi Adeboyejo Mrs Oritsemeyiwa Eyesan NUPRC R28 Holdings Ltd.