Tag: NUPRC

Reforms in the oil and gas sector under President Tinubu’s administration have unlocked $18 billion in Final Investment Decisions (FIDs), according to NUPRC. Highlights include the $5 billion Bonga North deepwater project by Shell and ExxonMobil, alongside $3 billion in marginal field developments awarded to indigenous firms like Aradel Holdings. Komolafe attributed the surge to […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has emphasized that a newly signed Production Sharing Contract (PSC) with TotalEnergies marks a major turning point in Nigeria’s energy trajectory—specifically in its shift toward a gas-powered economy. Key Highlights: First PSC Under PIA with Gas Focus: The PSC between NNPCL, TotalEnergies, and Sapetro, covering 2,000 square kilometers […]