The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that 22 major offshore projects are expected between 2026 and 2030 with an estimated investment potential of between $30 billion and $50 billion.
NUPRC’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, said this in Lagos on Wednesday, August 5, 2026, at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026).
Eyesan, who was represented by the Executive Commissioner, Development and Production, Enorense Amadasu, said in her keynote address that the investments were expected to increase production, create jobs and strengthen energy security.
“Besides developing its proven reserves, Nigeria is building a resilient energy future by maintaining a strong pipeline of exploration opportunities that will sustain long-term growth and energy security,” Eyesan was quoted as saying in a statement by the Head, Media and Corporate Communications, Eniola Akinkuotu.
According to the NUPRC chief, since 2022, successive licensing rounds have opened access to some of Nigeria’s most prospective oil and gas acreages.
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She made reference to the recent 2025 Licensing Round where 31 companies emerged successful bidders for 37 oil and gas blocks after progressing through a robust, data-driven and technology-enabled evaluation process.
Eyesan said the 2026 Licensing Round, which is set to commence soon, was showing greater promise due to the transparency that has characterised licensing rounds.
