The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is targeting the recovery of more than 788,000 barrels per day of shut-in oil production across 63 operators.
The Commission Chief Executive, NUPRC, Mrs.Oritsemeyiwa Eyesan, disclosed this
at the annual conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos with the theme:”Access to Assets:Empowering Players & Driving Growth”.
The NUPRC CCE who was represented by the Deputy Director, Services, Temisan-Olatunde Patricia, said the recovery efforts were aimed at boosting output and positioning Nigeria to achieve its three million barrels per day production ambition by 2030.
She added that the Commission also plans to accelerate the development of offshore projects estimated to be worth between $30 billion and $50 billion, while raising domestic gas delivery from about two-thirds of obligated volumes to full compliance.
According to the Commission, restoring the shut-in production, taking major offshore projects to final investment decision (FID) and ensuring full domestic gas supply obligations are met remain its key priorities.
She added that the recovery of the shut-in volumes would provide a significant boost to national production if the identified barrels can be brought back on stream. However, the CCE did not provide a breakdown of the causes of the production shut-ins, the operators involved or a timeline for recovering the entire volume.
Beyond production recovery, she said the regulator is seeking to accelerate drilling and well-rehabilitation activities.
Eyesan, disclosed that at least 77 wells had been successfully re-entered this year, while 128 wells had received approval for drilling. The figures, according to her underscore the Commission’s efforts to unlock production from existing assets while encouraging fresh exploration and development.
“Nigeria has continued to pursue higher crude oil production to strengthen export earnings and government revenues, with the country’s 2030 ambition requiring both the recovery of existing production and the development of new fields,”.
The NUPRC boss said the drive was being supported by executive orders issued by President Bola Tinubu to encourage deep offshore investment, alongside regulatory measures aimed at reducing barriers to capital inflows.
On offshore developments, the Commission identified projects with an estimated value of $30 billion to $50 billion as a priority, although it did not disclose the specific projects or the expected timelines for reaching final investment decisions.
“Securing FIDs on these projects would represent a major step towards committing capital to development, potentially paving the way for additional production in the coming years,”.
The Commission also highlighted the need to close the gap between domestic gas supply obligations and actual deliveries, saying current delivery levels stood at about two-thirds of the required volume.
Full compliance, she said, was necessary to strengthen domestic gas availability and support the country’s ambition to expand gas utilisation.
As part of its broader strategy to expand production, the NUPRC boss said the 2026 oil and gas licensing round would build on reforms introduced in previous rounds to attract more investors and deepen exploration.
The Commission, she said, recently launched the 2026 round, offering 40 assets to prospective investors.
It said its licensing programme over the past four years had been designed to deepen exploration, create jobs, increase production and expand government revenue.
“At the 2025 licensing round, 50 oil and gas blocks were offered, attracting interest from nearly 300 companies. Ultimately, 37 assets were taken up, including acreages in frontier basins,”.
For the first time, the Commission said, the Anambra Basin, Benue Trough, Chad Basin and Benin Basin attracted serious investor interest, signalling a widening of exploration activity beyond the traditional Niger Delta producing region.
She maintained that, the assets offered in the 2025 round could, subject to successful development, add about 500 million barrels to Nigeria’s crude oil reserves and contribute at least 300,000 barrels per day of crude oil and condensate within five years.
“They are also projected to add 20 trillion cubic feet of gas reserves and 500 million standard cubic feet per day of gas production,”.
The Commission said these potential additions would support Nigeria’s three-million-barrel-per-day production ambition and the Federal Government’s Decade of Gas initiative.
However, she pointed out that, the projected output and reserves additions depend on successful development of the awarded assets and should not be regarded as production already secured.
The NUPRC CCE said it had been reviewing investment barriers in the petroleum sector, with presidential approval, through measures including reductions in signature bonuses and the provision of seismic data to help investors assess assets before committing funds.
It also pledged to make licensing awards more predictable and transparent, with the 2026 guidelines expected to spell out eligibility requirements, bid parameters, evaluation criteria and conditions of award.
According to the Commission, the guidelines would be applied consistently to ensure that Nigerian and international investors, regardless of size, compete on a level playing field.
She added that communication with bidders would be expanded through the licensing portal, virtual data room, webinars and a dedicated help desk, with material clarifications shared among all participants.
The regulator maintained that transparent and predictable licensing processes were essential to building investor confidence and ensuring that the country’s petroleum resources were managed in the public interest.
She urged the media to support efforts to attract investment, noting that reporting on the sector could influence investors’ perceptions of Nigeria.
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