Nigeria’s upstream regulator approved 740 oil drilling operations from January through October 2026, a step officials tied to production targets and energy supply as the country seeks more investment in oil exploration.
The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, disclosed the figures at the Nigerian Association of Petroleum Explorationists’ 44th conference and exhibition in Lagos on Tuesday, Nov. 10, BusinessDay reported. Ahmad Abdullahi, the commission’s deputy director for Basinal Administration, delivered her remarks.
Of the approvals, 595 covered well re-entries, while 145 cleared new well drilling. The NUPRC also approved 39 field development plans during the period.
Eyesan said the commission’s improved review process had reduced the costs companies face while waiting for permission to move projects forward. She said approvals for new wells and field plans were needed to support production goals and maintain energy supplies.
The presentation put Nigeria’s rig fleet at 100 units, with 46 operating at the time. BusinessDay also reported that Minister of State for Petroleum Heineken Lokpobiri said the active fleet was four times its 2023 size. The outlet separately reported crude oil production at 1.8 million barrels per day.
Lokpobiri said exploration underway would shape Nigeria’s ability to maintain oil and gas output over the coming years.
