7,942 OIL SERVICE PERMITS, 49 LICENCES GRANTED IN Q1 — REPORT

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) granted 7,942 oil service permits and 49 licences in the first quarter of 2026, reflecting robust activity in the upstream sector despite global market challenges.

According to the Commission’s Q1 2026 performance report released on Friday, the permits covered a wide range of services including drilling, seismic data acquisition, engineering, and environmental consultancy. The licences issued included marginal field operatorships and exploration rights, aimed at boosting local participation and increasing Nigeria’s oil and gas reserves.

NUPRC Chief Executive, Engr. Gbenga Komolafe, described the figures as encouraging, noting that they demonstrate growing investor confidence in Nigeria’s petroleum sector. “The high number of permits and licences granted in the first quarter underscores our commitment to streamlining regulatory processes and creating an enabling environment for sustainable upstream operations,” Komolafe stated.

The report highlighted significant progress in the implementation of the Petroleum Industry Act (PIA), with emphasis on local content development and environmental compliance. Several indigenous companies were among the beneficiaries of the new licences, aligning with the government’s goal of increasing Nigerian participation in the oil and gas value chain.

Stakeholders welcomed the development, describing it as a positive signal for sector growth. The Chairman of the Nigerian Association of Petroleum Explorationists, Dr. Biodun Afolabi, said the numbers reflect renewed momentum in exploration and production activities. “This is good news for the industry. We expect more investments and increased production in the coming quarters,” he noted.

However, industry watchers cautioned that the actual impact on production and revenue will depend on the speed of project execution and resolution of security and infrastructure challenges in the Niger Delta.

The NUPRC pledged continued collaboration with operators to ensure timely approval of applications while maintaining high standards of safety and environmental protection. As Nigeria seeks to attract more investments into its upstream sector, the Q1 figures are seen as a strong foundation for achieving production targets in 2026 and beyond.