The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is considering conducting oil licensing rounds twice a year as part of efforts to attract fresh investment, bring more operators into the upstream sector and significantly increase Nigeria’s crude oil production.
NUPRC Chief Executive Officer, Mrs Oritsemeyiwa Eyesan, disclosed this in an interview with S&P Global, where she outlined the regulator’s plans to establish a more predictable and faster licensing cycle for oil and gas assets.
Eyesan said the commission wants licensing rounds to become regular events, with new assets taken to the market at least once a year and, where possible, twice annually.
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