Nineteen oil licences in Nigeria’s upstream oil and gas sector have stated expiry dates falling within 2026, according to the latest Nigerian Upstream Concession Situation Report released by the Nigerian Upstream Petroleum Regulatory Commission. The licences comprise 12 Petroleum Prospecting Licences and seven Oil Prospecting Licences, covering both onshore and offshore areas.
Some of the affected licences are already approaching or have passed their stated expiry dates. Among them are PPL 220, held by Navante Exploration and Production Limited, which is due to expire on October 16, and PPL 232, held by Kizi Oil and Gas Services Limited, with a November 16 expiry date. Others include PPL 235, PPL 223 and PPL 266, while several OPLs also have expiry dates spread across 2026.
However, the expiry dates do not automatically mean the licences have been revoked. The NUPRC report indicates that some concessions are undergoing conversion or being considered for possible optional tenure extensions. For instance, PPL 219, PPL 236, PPL 243 and PPL 258 are marked as having their conversion in progress, while some OPLs carry indications of possible extension or conversion.
The development comes as the Federal Government intensifies efforts to attract investment, increase crude oil production and prevent oil assets from remaining dormant. NUPRC has also continued to award new acreage, with 19 Petroleum Prospecting Licences issued to 12 successful bidders in July 2026 under the 2024 Licensing Round and 2022/2023 Mini Bid Round. Most of the newly awarded licences have tenures running into 2031.
For operators holding the affected licences, the clock is therefore more than just a date on a regulatory document. Renewal, conversion or extension will depend on applicable requirements and the level of work carried out on the assets. Energy expert Professor Emeritus Wumi Iledare noted that renewal could become difficult where meaningful exploration or development had not taken place. Meanwhile, NUPRC has repeatedly reinforced its “drill or drop” policy, warning that companies that fail to develop awarded assets could ultimately lose them.
source: punch
