The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday presented Petroleum Prospecting Licences (PPLs) arising from the conclusion of the 2022/2023 mini bid round and the Nigeria 2024 licensing round to the successful bidders.
The ceremony held on the sidelines of the 2026 Nigeria Oil and Gas (NOG) Energy Week covered 12 successful awardees across 19 PPLs, comprising a balanced portfolio of deep offshore, shallow water and continental shelf acreages.
This, according to the commission, reflects the diversity of opportunities offered through the licensing rounds.
A licensing round is a process by which the government grants oil and gas exploration and production rights to companies through a competitive bidding process.
Some of the companies that were presented with their awards at the venue include: Broron Energy Limited (PPL 2009), Petroli Energy Marketing and Supply Limited (PPL 269), Sahara Deepwater Resources Limited (PPL 270 and PPL 271) and Tulcan Energy E&P Co (PPL 2008).
According to the commission, companies whose representatives were not present will have their execution ceremonies scheduled shortly at mutually convenient dates.
The NUPRC said the awards represent another significant milestone in Nigeria’s continuing efforts to deepen investment in the upstream petroleum sector, accelerate exploration activities, expand the nation’s hydrocarbon reserves, and create long-term value for the Nigerian economy.
Also, the Managing Director of ExxonMobil affiliates in Nigeria, Jagir Baxi, announced that the company and its partners will commit $1 billion to the on-block activities for the Usan Infill Project in OML 138.
In her reaction, the NUPRC Chief Executive, Oritsemyiwa Eyesan, said the investment commitment, which is expected to add 40,000 barrels per day, was particularly significant because Esso Exploration and Production Nigeria, ExxonMobil’s affiliate, had not undertaken any drilling operation since 2016.
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“With Esso’s last drilling operation dating back to 2016, the resumption of drilling signals renewed potential and value in our deep water acreage,” Ms Eyesan said.
She said the NUPRC remains steadfast in advancing Nigeria’s portfolio of deepwater projects, adding that such developments are essential to achieving national production targets, increasing reserves, sustaining government revenues, and bolstering investor confidence.
Esso Exploration and Production is the operator of OML 138, which contains the Usan field. The block is operated under a Production Sharing Contract with NNPC Limited. Co-venture partners in OML 138 include Chevron, TotalEnergies, and Nexen, a wholly owned subsidiary of CNOOC.
As a short-cycle investment, the project is expected to sustain and increase production from the Usan field, with first production within 18 months after the seismic data identified the investment opportunity.
