By Obiabin Onukwugha
The era of regulatory ambiguity in Nigeria’s upstream sector is over, the Commission Chief Executive (CCE), of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has stated.
Komolafe spoke during a recent courtesy visit paid him by a high-level TotalEnergies delegation, led by the President, TotalEnergies Exploration and Production, Mr. Nicolas Terraz.
He reiterated the NUPRC’s commitment to a predictable regulatory environment, saying that the Commission is not only a regulator but a strategic business enabler in line with the provisions of the Petroleum Industry Act (PIA) 2021.
“Now, in Nigeria, we have a regulator that steps in to address the issues as an enabler,” he stressed.
The NUPRC boss underscored the Commission’s investor-centric reforms and continued drive to improve operational clarity for oil and gas companies.
He praised TotalEnergies for its recent execution of projects under the Obagi Host Communities Development Trust (HCDT), describing the development as a demonstration of the company’s commitment to community development and the spirit of the PIA’s host community provisions.
Komolafe encouraged the operator to actively participate in the upcoming 2025 Licensing Round, which the Commission has positioned to attract high-value investments, new entrants, and increased exploration activity across frontier and mature terrains.
In his remarks, TotalEnergies Exploration and Production, Mr.Terraz, praised the NUPRC for the transparency and credibility displayed during the 2024 mini-bid round.
He expressed confidence that the 2025 round would benefit from the Commission’s reform-driven processes and enhanced governance framework.
Terraz said the company remains optimistic about new opportunities in Nigeria, noting that the clarity and fairness exhibited in the previous round have strengthened investor confidence.
He assured that lessons learned from the 2024 exercise would positively shape expectations for the 2025 Licensing Round.
Terraz also reaffirmed the company’s long-term commitment to Nigeria’s upstream sector, describing the country as a strategic hub in its global portfolio.
He emphasised TotalEnergies’ readiness to align with NUPRC’s vision for a more competitive, transparent, and investment-driven oil and gas industry.
“Drawing from the 2024 bid round, the 2025 edition would be positive,” he said, stressing that TotalEnergies is “optimistic about the new bid round,” he said
The TotalEnergies Chief also applauded the NUPRC for delivering a transparent 2024 mini-bid round and has signalled strong interest in the forthcoming 2025 Licensing Round scheduled to commence on December 1, 2025.
