NUPRC Defends Oil Licensing Round Against Criticism
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has pushed back against criticism of its recent oil and gas licensing round. The Commission, led by Mrs Oritsemeyiwa Eyesan, argued that reports portraying the award of oil blocks as politically influenced distorted a process it described as transparent, competitive, and technically driven.
The Commission said some media reports failed to reflect the technical and commercial rigour behind the exercise, reducing it to 'political speculation and unsubstantiated headlines'. It warned that such narratives could weaken investor confidence in Nigeria's upstream petroleum industry. Eyesan emphasized that the licensing round was designed to meet global standards of transparency and competitiveness.
The Commission explained that after prequalification, 196 applicants advanced to the technical and commercial stages, with 143 companies submitting 200 bids covering 37 assets before the process culminated in the commercial bid conference held on July 21. The exercise attracted significant global interest, with 50 blocks offered across various basins.
The NUPRC also announced a more aggressive transparency strategy, including regular technical engagements with energy editors and correspondents and continued publication of oil production data, acreage status, rig disposition, and operational performance reports on its website. The Commission urged journalists to seek technical clarification before publishing reports on reserves, production, or asset awards.