Nigeria targets up to $50 bn offshore oil investment by 2030

Nigeria offshore oil investment NUPRC 22 projects $50bn

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said 22 major offshore oil and gas projects are slated for development between 2026 and 2030, with an estimated investment potential of $30 billion to $50 billion. The regulator has approved more than $57 billion in Field Development Plans since 2024, several of which have already moved to Final Investment Decisions. It also highlighted that the 2025 licensing round awarded 31 companies successful bids for 37 blocks and that preparations for the 2026 licensing round are already under way. The commission expects the offshore pipeline to boost crude output, create thousands of jobs, expand infrastructure and strengthen Nigeria’s energy security.

Indigenous operator Heirs Energies reported that its crude oil production rose to about 55,000 barrels per day in 2024, up from 25,000 bpd when it took operational control in 2021, and that its gas output now exceeds 100 million standard cubic feet per day. The company said indigenous firms now operate more than 60 % of Nigeria’s crude production, compared with 20‑30 % before the COVID‑19 pandemic, attributing the gains to improved pipeline security and community engagement.

Entities: Enorense Amadasu · Heirs Energies · Malam Rabiu Umar · Nigeria · Nigerian Midstream and Downstream Petroleum Regulatory Authority · Nigerian Upstream Petroleum Regulatory Commission · Oritsemeyiwa Eyesan · Osayande Igiehon · Society of Petroleum Engineers Nigeria Annual International Conference and Exhib

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 8 SOURCES] The 2025 licensing round awarded 31 companies successful bids for 37 oil and gas blocks. (NUPRC statements)
[● 6 SOURCES] Some of the approved Field Development Plans have progressed to Final Investment Decisions. (NUPRC statements)
[● 8 SOURCES] Preparations are underway for the 2026 licensing round. (NUPRC statements)
[● 6 SOURCES] The investment potential of the 22 offshore projects is estimated at $30 billion to $50 billion. (NUPRC statements)
[○ 1 SOURCE] Nigeria aims to nearly double its oil production to about 3 million barrels per day by 2030. (Reuters report cited in article)
[● 6 SOURCES] The offshore investments are expected to increase production, create jobs, expand infrastructure and strengthen energy security. (NUPRC statements)
[● 6 SOURCES] NUPRC expects 22 major offshore oil and gas projects between 2026 and 2030. (NUPRC announcements at NAICE 2026)
[● 6 SOURCES] NUPRC has approved over $57 billion in Field Development Plans since 2024. (NUPRC statements)
[○ 1 SOURCE] Improved pipeline security helped Heirs Energies raise gas output to over 100 million standard cubic feet per day. (Heirs Energies CEO Osayande Igiehon)
[● 7 SOURCES] The NUPRC has approved over $57 billion in Field Development Plans since 2024, some of which have progressed to Final Investment Decisions. (NUPRC statements)
[● 7 SOURCES] The NUPRC expects 22 major offshore oil and gas projects between 2026 and 2030. (NUPRC statements)
[● 7 SOURCES] The estimated investment potential of the 22 offshore projects is $30 billion to $50 billion. (NUPRC statements)