Nigeria Approves 740 Oil Drilling Operations in 2026

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved 740 oil drilling operations and 39 Field Development Plans between January and October 2026. These approvals include 595 well re-entries and 145 new well-drilling operations, according to data disclosed at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists in Lagos.

Commission Chief Executive Oritsemeyiwa Eyesan stated that the commission improved its regulatory review processes to shorten waiting periods and reduce costs for operators. The NUPRC attributed this increased efficiency and a rise in investor confidence, including over $100 million in seismic data investment, to the Petroleum Industry Act.

Nigeria's total rig count has reached 100, with 46 units currently active. Minister of State for Petroleum Heineken Lokpobiri noted that the active rig fleet has grown to four times its 2023 size, representing a more than 300 percent increase over 2021 levels. Current crude oil production is reported at 1.8 million barrels per day, with the government viewing ongoing exploration as critical for maintaining long-term output.