The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has identified 22 major offshore projects that could drive fresh investment into Nigeria’s oil and gas industry as the country enters a new cycle of upstream development.
The projects comprise 12 deepwater and 10 shallow-water developments, including Bonga Southwest, Aparo, Zaba Zaba, Owowo, Bosi and Egina South.
The Commission disclosed this in a statement issued on Wednesday, following a presentation by its Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, at the Nigeria Investment Forum 2026 in New York on Friday.
Eyesan was represented at the forum by the Executive Commissioner, Corporate Services and Administration, Dr Kelechi Onyekachi Ofoegbu.
According to the Commission, the project pipeline reflects opportunities for investors as regulatory reforms and improved project economics create more favourable conditions for upstream developments.
NUPRC also highlighted recent capital commitments to projects including Bonga North, Obeta Gas Development, HIN Associated Gas Development and Iseni Gas Development, describing them as evidence of movement towards actual project development.
The Commission said the Petroleum Industry Act 2021 provided the foundation for restructuring Nigeria’s upstream regulatory framework, while subsequent government and Commission-led reforms were designed to improve predictability and the bankability of upstream projects.
It also highlighted incentives for non-associated gas and deepwater developments, alongside measures aimed at shortening contracting cycles and providing greater certainty around project economics.
Since 2024, NUPRC said it has approved 120 Field Development Plans, representing more than $57 billion in potential investment.
The Commission said the approved development plans and offshore project pipeline demonstrate the scale of opportunities available as Nigeria works to convert its hydrocarbon resources into producing assets and attract new capital into the upstream sector.
COURTESY: Nigerian News Direct
