FG Opens 2026 Oil Licensing Round, Offers 40 Blocks to Investors

The Federal Government has launched the 2026 oil and gas licensing round, offering 40 blocks across onshore, shallow-water and deepwater locations to local and foreign investors. The Nigerian Upstream Petroleum Regulatory Commission said the exercise has presidential approval. Companies seeking the blocks must show technical capacity, financial strength and a commitment to develop the assets. The commission said bidders will be required to disclose their beneficial owners, while full evaluation results will be published. It said the measures are intended to improve transparency and help Nigeria compete for upstream investment.

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