Total Energies exploring oil offshore
Nigeria’s upstream petroleum regulator says the country could attract as much as $50 billion in offshore oil and gas investment by 2030, with at least 22 new projects expected to reach production. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) attributes the renewed investor interest to recent reforms, licensing rounds, infrastructure upgrades, and improved security. The agency says it has approved more than $57 billion worth of field development plans since 2024, clearing the way for several projects to reach final investment decisions. The 2025 licensing round awarded 37 blocks to 31 companies, with preparations for the 2026 round now underway. The push forms part of Nigeria’s broader ambition to nearly double crude output to 3 million barrels per day by the end of the decade, reinforcing its position as Africa’s leading oil producer.