The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that 43 new Field Development Plans (FDPs) approved in 2025 are set to unlock 1.7 billion barrels of crude oil and 7.7 trillion cubic feet of gas, signaling a major boost for the nation’s upstream sector.
Gbenga Komolafe, the Commission’s Chief Executive in a statement signed by Eniola Akinkuotu, Head, Media and Strategic Communication made the disclosure at the 43rd Annual International Conference and Exhibition (AICE) of the Nigerian Association of Petroleum Explorationists (NAPE) on Monday in Lagos.
Speaking on the theme, “Revitalising the Nigerian Petroleum Exploration and Production: Strategies for Energy Security and Sustainable Development,” Komolafe, who was represented by Emmanuel Mac-Jaja, Director of Subsurface Development at NUPRC, said the new FDPs reflect a resurgence in investments and depict significant progress in Nigeria’s oil and gas sector.
“In 2025 alone, 43 new Field Development Plans (FDPs) were approved, unlocking 1.7 billion barrels of oil and 7.7 trillion cubic feet of gas, backed by over $20 billion in committed capital,” he stated.
He highlighted major Final Investment Decisions (FIDs), including $5 billion for Bonga North, $500 million for the Ubeta Gas project, and $2 billion for Shell’s HI Gas Project, collectively unlocking nearly 2 trillion standard cubic feet of gas.
Komolafe further noted that indigenous participation in the sector is deepening, with local acquisition deals exceeding $5 billion, signaling growing confidence in homegrown players.
The NUPRC chief emphasized that Nigeria is at a defining moment in global energy, describing it as a period of transition, transformation, and opportunity. While acknowledging the global shift toward renewable energy.
He stressed that oil and gas will remain indispensable, particularly in developing economies where access to energy remains a critical challenge.
On upstream reforms powering growth, Komolafe outlined initiatives including advanced data systems with stress field detection technology, an upgraded National Data Repository to de-risk exploration, continuous acreage licensing for global competitiveness, and the Project One Million Barrels, aimed at restoring and growing daily production through rig reactivation and well optimization.
He added that deepwater expansion through cluster development and shared infrastructure is reducing costs and accelerating first oil, while frontier basin development leverages the Petroleum Industry Act (PIA) to explore untapped regions across Nigeria.
Highlighting the investment surge, He revealed that rig activity has grown from eight in 2021 to over 40 today, reflecting renewed investor confidence in the upstream sector.
On environmental sustainability, the NUPRC boss reaffirmed the Commission’s commitment to responsible operations, citing initiatives like gas flare commercialisation, the Decade of Gas, the Presidential CNG Initiative, and the Upstream Decarbonisation Framework, which integrates methane monitoring, carbon capture, and access to carbon finance.
Additionally, the Host Community Development Trust, powered by the HostComply platform, ensures transparency, accountability, and shared prosperity for oil-bearing communities.
Komolafe expressed confidence that ongoing reforms would firmly position Nigeria as a global energy hub once again, driving growth, sustainability, and energy security for the nation.
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