The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 43 Field Development Plans (FDPs) approved in 2025 could unlock 1.7 billion barrels of crude oil and 7.7 trillion cubic feet of natural gas.
NUPRC Chief Executive, Engr. Gbenga Komolafe, disclosed this on Monday at the 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
Represented by the Director of Subsurface Development, Emmanuel Mac-Jaja, Komolafe said the approved projects signal renewed investor confidence in Nigeria’s upstream oil and gas sector, with more than $20 billion in committed capital.
He cited major Final Investment Decisions (FIDs), including $5 billion for Bonga North, $500 million for Ubeta Gas, and $2 billion for Shell’s HI Gas Project — collectively unlocking nearly 2 trillion standard cubic feet of gas. Indigenous participation, he added, has also deepened, with local acquisitions surpassing $5 billion.
Komolafe noted that despite the global energy transition, oil and gas will remain vital for Nigeria’s economic growth and energy security. He outlined several ongoing reforms, including continuous acreage licensing, advanced data-driven exploration tools, and an upgraded National Data Repository designed to reduce risks and attract investment.
Through its “Project One Million Barrels” initiative, the Commission is driving production growth via rig reactivation and well optimization. Rig count, he said, has risen from eight in 2021 to over 40 in 2025.
On sustainability, Komolafe highlighted initiatives such as gas flare commercialisation, the Decade of Gas, and the Presidential CNG Initiative — all aimed at maximising gas utilisation and reducing emissions. The NUPRC’s Upstream Decarbonisation Framework, he said, integrates methane monitoring, carbon capture, and access to climate finance.
He reaffirmed NUPRC’s commitment to transparency and inclusion through the Host Community Development Trust and the HostComply platform, ensuring accountability and shared benefits for host communities.
Komolafe expressed confidence that the ongoing reforms will strengthen Nigeria’s position as a competitive global energy hub, driving sustainable growth and energy security.
