NUPRC: 2025 oil licensing round could add 500 million barrels to Nigeria’s reserves
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says assets offered in its 2025 oil licensing round could add about 500 million barrels to Nigeria’s crude oil reserves and at least 300,000 barrels per day (bpd) of crude oil and condensate production within five years. The post NUPRC: 2025 oil licensing round could add 500 million barrels to Nigeria’s reserves appeared first on…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2025 oil licensing round could potentially add approximately 500 million barrels to Nigeria's crude oil reserves and generate an additional 300,000 barrels per day of crude oil and condensate production within the next five years. NUPRC Chief Executive Oritsemeyiwa Eyesan revealed these projections during the 2026 Energy Conference in Lagos, emphasizing that the success of the awarded assets would be crucial to meeting Nigeria's goal of producing three million barrels of crude oil per day by 2030.
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