Nigeria Aims for Oil Asset Protection as Licensing Round Looms
Nigeria's ambitious 2025 oil licensing round is expected to benefit from sustained oil asset protection, as stakeholders emphasize pipeline security and Niger Delta stability to attract investment.
The country's upstream oil licensing round has set production and reserve targets of adding 500 million barrels to the country's reserves and increasing crude oil production by 300,000 barrels per day within three years. Industry stakeholders say achieving those objectives will depend on protecting oil assets, tackling crude oil theft, and maintaining stability in the Niger Delta.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) expects the exercise to support reserve growth and increase production over the next three years. However, increased investment must be matched by improved protection of oil infrastructure, as pipeline vandalism and crude oil theft remain key challenges to production growth.