By Our Reporter
Nigeria has approved 145 new oil-well drilling operations, 595 well re-entries and 39 field development plans in 2026 as part of efforts to increase crude oil production, attract fresh investments and strengthen the country’s energy security.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Oritsemeyiwa Eyesan, disclosed this at an oil industry conference in Lagos, highlighting the regulator’s efforts to accelerate exploration and development activities in the upstream petroleum sector.
Eyesan said improvements in administrative processes had significantly reduced project approval timelines and operational costs for oil and gas companies, creating a more favourable environment for investment.
According to the commission, 46 out of more than 100 available drilling rigs are currently operational across the country, representing a 300 per cent increase in drilling activity compared with the level recorded in 2021.
The development signals renewed activity in Nigeria’s upstream petroleum industry as the government intensifies efforts to expand production capacity and increase oil revenues.
The commission also disclosed that seismic companies had invested more than $100m in Nigeria since the implementation of the Petroleum Industry Act (PIA) three years ago.
The investments have supported improvements in exploration data, strengthened geological assessments and accelerated efforts to identify new oil and gas reserves.
Beyond approving drilling operations and encouraging fresh investments, the NUPRC said it was sustaining efforts to tackle crude oil theft, which has continued to undermine production and revenue generation in the country.
The regulatory agency maintained that improved exploration activities, faster project approvals and stronger industry investments would be critical to unlocking Nigeria’s petroleum potential and strengthening its position in the global energy market.