The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to commence the country’s 2026 oil block licensing round in the third quarter of the year as part of efforts to attract fresh investments into the oil and gas sector.

The commission said preparations for the exercise are already underway following approval from the Minister of Petroleum Resources in line with the provisions of the Petroleum Industry Act (PIA).

Speaking during a meeting with executives of Meren Energy in Abuja, NUPRC said the move would build on the momentum generated by the ongoing 2025 licensing round. The regulator noted that commercial bidding for the current round is expected to take place in July before attention shifts to the 2026 exercise.

According to the commission, investor interest in the 2025 licensing round has been encouraging, reflecting growing confidence in Nigeria’s upstream petroleum industry. It attributed the renewed interest to ongoing reforms aimed at improving the investment climate and enhancing transparency in the sector.

During the meeting, Meren Energy reaffirmed its commitment to expanding its investments in Nigeria. The company’s leadership described Nigeria as a key market and expressed interest in participating in future licensing rounds and opportunities arising from asset acquisitions.

The firm also indicated its willingness to support efforts to increase crude oil production through additional investments in existing assets and new developments.

Meren Energy further reiterated its commitment to supplying crude oil to local refineries, including the Dangote Refinery, subject to commercial agreements and market conditions.

Nigeria has continued to use licensing rounds as a strategy to attract investment, boost exploration activities and increase hydrocarbon production, with the Petroleum Industry Act providing a framework for a more competitive and transparent bidding process.