NUPRC, Indonesia’s Pertamina Discuss Investment in Nigeria’s 2026 Oil Licensing Round
The Nigerian Upstream Petroleum Regulatory Commission has opened discussions with Indonesia’s state-owned oil company, Pertamina, on possible participation in Nigeria’s 2026 Licensing Round. At a meeting with NUPRC chief Oritsemeyiwa Eyesan, Pertamina said it was seeking producing assets, projects close to production and opportunities ahead of final investment decisions. The company is also exploring opportunities in natural gas and fertiliser-related projects. Nigeria is targeting crude oil production of three million barrels per day by 2030, up from the current 1.6 million to 1.7 million barrels per day. The NUPRC said it has reduced entry barriers, including signature bonuses, and made licensing rounds a recurring exercise under the Petroleum Industry Act. Both sides agreed to continue commercial and diplomatic engagements, but no investment deal or asset acquisition was announced.
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