The Federal Government has commenced the review of applications by oil operators whose licences have expired, with a view to extending their tenure and allowing them to retain control of the affected oil and gas assets beyond 2026.
The development was disclosed by sources at the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, who confirmed that operators of the expired licences had applied for extensions.
According to the Commission, the applications are currently being reviewed as part of the normal regulatory process. citeturn0search1
The review comes as the Federal Government continues efforts to maximise Nigeria’s oil and gas assets and boost production from existing fields.
A source at the NUPRC said the companies had applied for extensions and that their requests were undergoing consideration.
The government’s decision on the applications will determine whether the affected operators retain control of the assets beyond 2026.
