Tag: Oil Exploration

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken significant steps to boost the country's oil production, approving a major new exploration license while also streamlining the process for bringing idle wells back online. The Commission signed a Petroleum Exploration Licence (PEL) No. 5 agreement with a partnership led by SeaSeisGeophysical Limited and global data company TGS. According …

NUPRC Approves Major Offshore Exploration License to Boost Nigeria’s Oil Reserves

As registration for the 2025 licensing round continues, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has listed 50 oil blocks covering onshore, shallow water, and deep offshore areas. The Commission, which launched the 2025 licensing round on December 1, announced a slash of signature bonus to between $3 million and $7 million as approved by …

NUPRC Lists 50 Oil Blocks, Slashes Signature Bonus to Between $7m

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