FG targets additional 300,000bpd oil production with 2026 bid round

Speaking at the Commercial Bid Conference for the Nigeria 2025 Licensing Round in Abuja on Tuesday, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eyisan, said the new production would support the government’s target of raising national oil output to three million barrels per day by 2030.—To grow reserve by 500m barrels By Obas Esiedesa, Abuja The Federal Government has said the ongoing 2025 Licensing Round is expected to deliver an additional 300,000 barrels per day of crude oil and condensate production over the next three years, as it prepares to launch another bid round in 2026 to accelerate investment in Nigeria’s upstream petroleum sector.“The assets available in this licensing round have the potential to add about 500 million barrels to Nigeria’s reserves.