NUPRC records show 12 Petroleum Prospecting Licences and seven Oil Prospecting Licences with stated expiry dates in 2026 as the regulator pushes investment and its “drill or drop” policy

The Nigerian Upstream Petroleum Regulatory Commission has listed 19 Nigerian oil licences with stated expiry dates falling within 2026, placing a number of upstream concessions at important regulatory milestones as the Federal Government seeks to increase investment, exploration and crude oil production.

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The concessions comprise 12 Petroleum Prospecting Licences and seven Oil Prospecting Licences, according to the latest Nigerian Upstream Concession Situation Report cited in the August 2026 data. The schedule includes both onshore and offshore acreage, particularly across the Niger Delta.

The expiry dates do not, however, mean that all 19 licences will automatically leave their current holders. NUPRC’s concession records distinguish between ordinary expiry dates and licences undergoing conversion or being considered for possible optional tenure extensions.

That distinction is important because the commission has been increasingly enforcing the Petroleum Industry Act’s requirement that operators either develop their acreage or relinquish it.

Among the concessions approaching the end of their stated tenure is PPL 220, held by Navante Exploration and Production Limited.

The licence covers the Abigborodo field and has an October 16, 2026 expiry date. NUPRC records place the acreage in the Niger Delta’s continental shelf. Similar records have previously identified PPL 220 as a 2026-expiry concession. (News Express Nigeria)

PPL 232, held by Kizi Oil and Gas Services Limited, is another significant concession on the list. Its Amaniba field acreage covers 32.366 square kilometres on the continental shelf and has a stated expiry date of November 16, 2026. (NUPRC)

PPL 235, operated by Oceangate Engineering Oil & Gas Limited, is associated with the Udara field and has a November 1, 2026 expiry date. The licence covers 28.121 square kilometres on the Niger Delta continental shelf. (NUPRC)

Other Petroleum Prospecting Licences in the 2026 expiry group include PPL 223, PPL 230, PPL 251, PPL 266, PPL 275, PPL 277 and PPL 254, with expiry dates spread across the year.

The concession records also show PPL 230, held by Metropole Petroleum & Gas Limited with YYConnect Consulting Limited, expiring on December 28, 2026.

The licence covers the Edi field, derived from OML 67, and spans 89.5 square kilometres on the continental shelf. (NUPRC)

Some of the stated expiry dates had already passed when the August report was compiled. Those include concessions whose tenures ended earlier in 2026.

The appearance of an expired date in the commission’s concession schedule should not, by itself, be interpreted as proof that the licence has been revoked.

The records contain separate indications where conversion or extension processes are underway.

This is particularly relevant for licences such as PPL 219, PPL 236, PPL 243 and PPL 258, which the commission’s records identify as being subject to conversion processes.

The OPL category also contains concessions with 2026 expiry dates. They include OPL 228, OPL 289, OPL 809, OPL 810, OPL 276, OPL 2010 and OPL 215.

The schedule therefore reflects a wider turnover of Nigeria’s upstream acreage rather than a single wave of cancellations.

NUPRC’s approach is increasingly centred on ensuring that petroleum acreage translates into actual exploration and production activity. In March, Commission Chief Executive Oritsemeyiwa Eyesan said the era of companies holding prospecting licences without developing their assets was over.

“The PIA also opened the opportunities for small and big players because there is now a drill or drop provision in the Act,” Eyesan said. “So, we have moved from that era to drill or drop.” (NUPRC)

The commission has linked the policy to Section 94 of the Petroleum Industry Act, which requires operators to commence work or relinquish their licences. NUPRC has said the enforcement is intended to reduce dormant acreage and create more opportunities for serious investors. (NUPRC)

The policy has become even more prominent with the latest licensing activity.

At the July 2026 commercial bid conference for the Nigeria 2025 Licensing Round, Eyesan told successful bidders that winning acreage was not an achievement to be celebrated without development.

“To the bidders who will emerge successful today, an award is not a trophy to be held. It is an obligation to invest, drill, develop and produce,” she said. (NUPRC)

The commission subsequently announced preferred bidders for 37 of the 50 blocks offered during the licensing round, with 13 blocks returned to the bid basket for future licensing. (NEWSVERGE)

The exercise attracted substantial investor interest. NUPRC said 286 companies applied for prequalification, 196 were prequalified and 143 ultimately submitted 200 technical and commercial bids covering 37 assets. (LinkedIn)

The regulator has also emphasised that winning a bid does not by itself constitute the final grant of a licence. Successful bidders must meet post-award requirements, including payment of applicable signature bonuses and other obligations before final approval.

That approach illustrates the commission’s broader attempt to make acreage allocation more closely connected to investment and production.

The new licensing activity also provides an important backdrop to the 2026 expiry schedule. As some existing concessions approach the end of their stated terms, fresh acreage is being offered to investors willing to commit capital and work programmes.

The situation also comes at a time when Nigeria is seeking to raise crude production and reverse years of underinvestment and declining output.

For the government, dormant or underdeveloped acreage represents an opportunity to increase reserves, production, employment and revenue if the assets can be brought into productive use.

For existing holders, however, the expiry dates create a more immediate regulatory question.

Where applicable, companies may need to secure extensions, complete conversions or demonstrate compliance with the relevant work and investment requirements.

The outcome will depend on the circumstances of each concession and the commission’s assessment under the applicable regulatory framework.

Energy economist Professor Emeritus Wumi Iledare has previously stressed that licence renewal should not be treated as automatic where meaningful exploration or development has not taken place.

The principle is consistent with NUPRC’s increasingly firm position that acreage should be actively worked rather than held indefinitely.

The commission’s latest concession records therefore provide a snapshot of an upstream sector undergoing significant change. Some licences are approaching or have reached their stated tenure dates, some are moving through conversion or extension processes, while new investors are being invited to take up other assets.

NUPRC has not indicated that all 19 concessions will be revoked, and the available concession report does not establish the final regulatory outcome for each licence.

The immediate significance of the 19 Nigerian oil licences is that their stated 2026 expiry dates bring them under renewed regulatory attention at a time when the commission is demanding faster development of Nigeria’s petroleum assets.

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For the companies involved, the next steps could determine whether the acreage remains in their portfolios, changes contractual form, receives an approved extension or returns to the pool of assets available for future investment.