The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the country’s crude oil and condensate production is set to rise, with plans in progress to invite bids for both onshore and offshore oil blocks.
Enorense Amadasu, the Executive Commissioner for Development and Production at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), spoke at a conference in Lagos on Monday, where he announced plans to open bids for 31 oil and gas blocks. This initiative is aimed at increasing the country’s crude oil production and stimulating economic growth.
Although Amadasu did not provide specific details on the bidding timeline, he emphasized that these 31 blocks had been carefully selected for their potential to boost Nigeria’s reserves and drive economic activity.
In May 2024, NUPRC had invited bids for 12 oil blocks and seven deep offshore assets as part of the marginal bid round. A month later, NUPRC CEO Gbenga Komolafe revealed that the number of oil blocks available had been expanded.
Amadasu also shared an update on Nigeria’s current oil output, noting that the country’s total production, including both crude oil and condensates, has risen to 1.8 million barrels per day (bpd), up from 1.54 million bpd in September. He expressed confidence that the country is on track to reach 2 million bpd by December, with efforts underway to further increase production.
With improved security around oil infrastructure and new incentives to attract investors, Amadasu says he is optimistic about the growth potential of Nigeria’s oil and gas sector.
