The Nigerian Upstream Petroleum Regulatory Commission, NUPRC is targeting an additional 250,000 barrels of crude oil per day from 22 newly awarded Petroleum Prospecting Licence holders within the next five years.
The Commission said it will provide regulatory guidance and support to ensure the awardees meet their minimum work programmes and accelerate first oil production, as the country pursues its target of three million barrels per day by 2030.
Speaking at a two-day onboarding workshop in Lagos, the Commission Chief Executive, Oritsemeyiwa Eyesan, said the programme was designed to equip the new licence holders with the technical and regulatory knowledge required to move from licence awards to production.
Eyesan reaffirmed the October 31, 2026 deadline for the drill-or-drop policy, with more than half of the awardees expected to achieve first oil within two years.
The NUPRC warned that licences could be withdrawn from operators who fail to meet work requirements.
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(Editor: Ken Eseni)
