Nigeria’s upstream regulator, NUPRC, says at least 22 offshore projects could begin production by 2030, potentially attracting up to $50 billion in investment.
NUPRC chief Oritsemeyiwa Eyesan said reforms, licensing rounds, and improved security have helped clear over $57 billion in field development plans since 2024.
In the 2025 licensing round, 37 blocks were awarded to 31 companies. Plans for the 2026 round are underway.
The goal: nearly double oil production to 3 million barrels per day by 2030. The regulator says the investments will expand infrastructure and make Nigeria more attractive to upstream investors
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