Nigeria plans to more than double its oil and gas reserves by intensifying exploration, particularly in deepwater areas and underexplored basins. Minister of State for Petroleum Resources Heineken Lokpobiri outlined the ambition on Tuesday, November 10, at the opening of the 44th Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos. To […]
Meren Energy Inc (TSX:MER, STO:MER, OTCQX:MRNFF) CEO Dr Oliver Quinn spoke with Proactive’s Stephen Gunnion about strong third-quarter financial results, renewed drilling activity in Nigeria and plans to accelerate operations during 2027. Meren reported quarterly EBITDA of more than $110 million and free cash flow of $59 million, with higher commodity prices supporting performance. Cumulative […]
In its efforts to raise crude oil production and attract fresh investments into the upstream sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it approved 595 well re-entries, 145 new well-drilling operations and 39 Field Development Plans (FDPs) in the first 10 months of 2026. NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, disclosed this yesterday […]
Nigeria is emerging as an alternative destination for global oil and gas investors seeking to diversify their portfolios amid geopolitical risks in the Gulf region, with foreign groups indicating willingness to mobilise $21 billion for the country’s petroleum sector. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this on Monday in Lagos […]
State-owned Nigerian National Petroleum Company Ltd (NNPC) is actively inviting investors for a planned $25-26 billion gas pipeline to Morocco and expects to start discussing a final investment decision (FID) on a separate line across the Sahara next year, CEO Bashir Bayo Ojulari said. The ultimate destination of the Nigeria–Morocco Gas Pipeline (NMGP) and the […]
Nigeria has attracted more than $10 billion in oil and gas investments and projects within the past three years, with President Bola Tinubu’s policy reforms and incentives helping to strengthen investor confidence and improve the competitiveness of the country’s energy sector, Nigerian Content Development and Monitoring Board (NCDMB) has said. The Board attributed the investment […]
Domingos Freitas, board member of Effimax Energy, talks to The Energy Year about building a diversified upstream oil portfolio around Block KON 13 in Angola and targeting gas developments in Mozambique and São Tomé and Príncipe. Effimax Energy is a private oil and gas E&P investor in Sub-Saharan Africa. Angola remains the foundation of Effimax […]
Nigerian independent operator Seplat Energy has made an onshore oil and gas discovery following the drilling of the Aku-01 exploration well on Oil Mining Lease 53 in Imo State. The find encountered five prospective reservoir intervals, with preliminary estimates pointing to 157 billion cubic feet of natural gas and 19 million barrels of oil. “The […]
The Nigerian National Petroleum Company Limited says reforms in the oil and gas industry have increased Nigeria’s crude oil production by 600,000 barrels per day, from about 1.2 million barrels to 1.8 million barrels daily, as the country steps up efforts to attract international investment into the sector. The state-owned oil company said the production […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday disclosed that bidding for 40 oil and gas blocks under the 2026 licensing round will commence on November 20, 2026. The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this at a roundtable discussion titled, ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global […]