No fewer than 19 oil licences in Nigeria’s upstream petroleum sector have stated expiry dates falling in 2026, according to the latest concession report of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The August 2026 Nigerian Upstream Concession Situation Report lists 12 Petroleum Prospecting Licences (PPLs) and seven Oil Prospecting Licences (OPLs) with tenure dates ending this year.
The development comes amid the Federal Government’s renewed push to attract investment into the upstream sector, increase crude oil production and compel operators to develop dormant assets.
The report, however, does not indicate that the affected licences have been revoked. In some cases, the regulator has indicated that extension or conversion processes are ongoing or under consideration.
Among the PPLs listed with 2026 expiry dates are PPL 220, held by Navante Exploration and Production Limited, which is due to expire on October 16; PPL 232, held by Kizi Oil and Gas Services Limited, with a November 16 expiry date; and PPL 235, held by Oceangate Engineering Oil & Gas Limited, which expires on November 1.
PPL 223 is listed with a November 30 expiry date, while PPL 251 is scheduled to expire on November 16. PPL 266, operated by AOS Orchard Petroleum Development Limited, has a November 21 expiry date.
The report also lists PPL 277, PPL 275 and PPL 254 with February 14, 2026 expiry dates. These dates had elapsed before the publication of the August report, although there was no indication that the licences had been cancelled.
OPLs among affected concessions
The OPL category also has several licences whose stated tenure ends this year.
They include OPL 228, held by Sahara Upstream Production Nigeria Limited, which had a July 9 expiry date; OPL 289, operated by Cleanwaters Consortium, due to expire on September 9; and OPL 809 and OPL 810, both with June 14 expiry dates.
Others include OPL 276, with an August 14 expiry date; OPL 215, held by Noreast Petroleum Nigeria Limited, with a May 3 expiry date; and OPL 2010, whose tenure is scheduled to end on December 23.
The concessions are spread across different terrains and upstream categories, including onshore and continental shelf acreage.
PPL 220, for instance, covers 44.816 square kilometres in the onshore Niger Delta and is associated with the Abigborodo field, derived from OML 49.
PPL 232 covers 32.366 square kilometres on the continental shelf and is associated with the Amaniba field from OML 67, while PPL 235 covers 28.121 square kilometres and is linked to the Udara field from OML 70.
Not all licences necessarily lapse
The NUPRC report provides an important qualification to the expiry schedule.
Some of the affected concessions are identified as being under conversion, while others are marked for possible optional tenure extension or conversion.
PPL 219, held by Nuway Oaklane Limited; PPL 236, held by Emadeb Energy Services Limited; PPL 243, held by Waltersmith Petroman Limited; and PPL 258, held by Halkin Exploration and Production Limited, are among those listed as having conversion processes in progress.
In the OPL category, OPL 228, OPL 809 and OPL 810 carry indications that they are being processed for possible optional tenure extension or conversion.
Consequently, the 19 licences should be understood as concessions whose stated expiry dates fall in 2026, rather than 19 licences that NUPRC has formally revoked.
The report does not disclose the final regulatory status of each affected concession or indicate the outcome of any extension or renewal application.
A separate Petroleum Exploration Licence, PEL 1, held by TGS-Petrodata Offshore Services Limited, also has a 2026 expiry date. The licence covers a 56,500-square-kilometre 3D seismic and GravMag concession in the deep offshore Niger Delta and is stated to expire on April 20.
Fresh acreage enters the market
While some existing concessions approach the end of their stated tenure, the Federal Government is simultaneously putting fresh acreage into the hands of investors.
In July, NUPRC issued 19 Petroleum Prospecting Licences to 12 successful awardees under the 2024 Licensing Round and the 2022/2023 Mini Bid Round.
The new licences cover deep offshore, shallow-water and continental shelf areas, with several of them awarded on July 8, 2026, and carrying expiry dates in 2031.
The licences include PPL 2007, PPL 3011, PPL 2006, PPL 2003-DO, PPL 2005, PPL 3017, PPL 2002, PPL 304-DO and PPL 306-DO.
PPL 2008 was awarded to Tulcan Energy E&P Company Limited, while PPL 2009 went to Broron Energy Limited.
The new awards reflect the regulator’s strategy of renewing Nigeria’s upstream acreage portfolio and attracting fresh capital into exploration and production.
Operators face ‘drill or drop’ test
The fate of licences nearing expiration is also linked to the government’s “drill or drop” policy.
The policy is intended to discourage operators from holding oil and gas assets without undertaking meaningful exploration or development work.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has repeatedly warned that dormant assets could be recovered from operators that fail to develop them.
NUPRC Chief Executive, Oritsemeyiwa Eyesan, issued a similar warning during the 2025 commercial bid round, telling successful bidders that obtaining a licence was only the beginning of their responsibilities.
“To the bidders that emerged successful, the award should not be a trophy. It shouldn’t be just a medal of honour. We expect that you are going to work these assets,” she said.
Eyesan said the Petroleum Industry Act provides for the “drill-or-drop” principle and warned that operators that failed to undertake activity within three years could lose their assets.
“As enshrined in the PIA, we want you to remember the ‘drill-or-drop’ provisions. If you do not do anything in three years, I’m sorry, we will come for those assets,” she warned.
She also stressed that being declared a successful bidder does not by itself amount to the final grant of a Petroleum Prospecting Licence.
Successful bidders are required to fulfil post-award conditions, including providing relevant guarantees, paying signature bonuses and first-year rents, and executing the required contractual documents.
According to the NUPRC boss, a winning bidder that fails to satisfy the conditions within 90 days of receiving the offer risks having the award invalidated, with the commission potentially turning to reserve bidders in order of ranking.
Renewal subject to regulatory conditions
Professor Emeritus Wumi Iledare, an energy expert, has previously argued that renewal of expiring licences should depend largely on the level of exploration and development undertaken by their holders.
He said operators that had failed to undertake meaningful work could face difficulties securing renewal.
Iledare noted that upstream licences are governed by the Petroleum Industry Act and come with predetermined expiry or relinquishment dates.
He said renewal remained subject to the relevant criteria established by the upstream regulator and urged licence holders to engage NUPRC ahead of the expiration of their concessions.
NUPRC, contacted for clarification on the latest expiry schedule, reportedly promised to respond but had not done so as of Tuesday.
The regulator’s report therefore leaves the immediate fate of the affected concessions open, with the relevant operators potentially facing renewal, extension, conversion or relinquishment depending on their circumstances and compliance with the applicable regulatory requirements.
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