The figures were announced by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Oritsemeyiwa Eyesan, during the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists in Lagos on November 10.
Eyesan, represented by the Commission’s Deputy Director of Basinal Administration, Ahmad Abdullahi, said improvements in regulatory processing had reduced approval delays and the costs operators incur while waiting for project clearance.
She said the approvals were intended to help operators advance production projects, meet national targets and strengthen Nigeria’s energy security.
The regulator also disclosed that Nigeria has more than 100 drilling rigs, of which approximately 46 were actively involved in drilling operations this year. Eyesan said the active rig figure represented an increase of more than 300 percent compared with 2021 levels.
In addition, multi-client seismic companies have invested more than $100 million in acquiring seismic data in Nigeria during the three years since the Petroleum Industry Act came into force.
The investment is expected to improve geological information on Nigeria’s sedimentary basins and support decisions on future oil and gas exploration.
The Commission also highlighted measures to address crude oil theft, including its Advanced Cargo Declaration programme and coordinated surveillance involving the Nigerian National Petroleum Company Limited, private security companies and the Nigerian Navy.
Despite the increase in regulatory approvals and drilling activity, the figures do not represent an equivalent increase in actual oil production. The contribution of the approved projects will depend on implementation, successful drilling, commercial viability and the ability to bring additional production capacity online.
Nigeria continues to pursue higher output as it seeks to strengthen government revenues, attract upstream investment and improve energy security.
