Nigeria upstream dey open up to local companies.
Africa largest oil producer dey urge Nigerian companies make dem take bigger share of im oil and gas potential. MEA Energy Solutions dey build im place for di source.
- Barrels of proven Oil and condensate reserves (NUPRC, 1 January 2026)
- 37.5 billion
- Proven Gas reserves (NUPRC, 1 January 2026)
- 215 tcf
- Crude and condensate output, April 2026
- 1.48 m b/d
- Field development plans wey dem approve in 2025, worth $18.2 billion
- 28
Big reserves, and government wey want make dem develop dem.
Nigeria get about 37.5 billion barrels of proven oil and condensate reserves and 215 trillion cubic feet of gas, enough for decades of output at today’s rates. Reforms since 2023 don start to turn dat one into investment: tax incentives for deepwater developments, clearer roles between di energy agencies, and contracting timelines wey dem cut from 36 months to six. Nigeria share of Africa upstream final investment decisions rise from about 4% to about 40% in two years, and crude output rise by about 400,000 barrels a day between 2023 and 2025, to roughly 1.6 million.
Room dey to grow. Output na about 1.48 million barrels a day in April 2026, against 2026 budget benchmark of 1.84 million and NUPRC target of 2.5 million. To close dat gap need more operators, more capital and more rigs for work, and MEA intend to be one of di Nigerian operators wey go help close am.
Where Nigeria upstream dey stand, and where e dey go.
Nigeria crude output
Million barrels a day, crude and condensate.
- 2023: ~1.2
- 2025: ~1.6
- April 2026: 1.48
- H2 2026, Kpler: 1.75
- 2026 budget: 1.84
- NUPRC target: 2.5
Office of the Special Adviser on Energy review (2023 na 2025 minus di 400,000 b/d gain); Shipping Position, June 2026; Kpler; NUPRC
Nigeria active rigs
Number of rigs, 2026. Counts dey differ by source.
- NUPRC count: 31
- African Energy Chamber, March: 17
- African Energy Chamber, April: 12
- OPEC count: 12
Shipping Position, June 2026. The gap na mainly whether dem count standby rigs
How long Nigeria reserves go last
Years of supply based on wetin we dey produce today.
- Gas: 85 years
- Oil: 59 years
NUPRC, 1 January 2026
Pipeline of about $50 billion.
- 28
- Field development plans wey dem approve for 2025
- $18.2 billion
- Value of dose plans, wey dey target ~1.4 billion barrels
- 11
- Projects for pipeline of about $50 billion beyond 2026
- 40%
- Nigeria share of Africa upstream investment decisions, up from 4%
Swipe sideways to see the full table.
| Bonga North | Shell (SNEPCo) | Deepwater oil, final investment decision for December 2024, about $5 billion |
| HI non-associated Gas | Shell (SNEPCo) | Another $2 billion committed |
| Ubeta Gas | TotalEnergies and NNPCL | Joint final investment decision for June 2024, about $550 million |
| Bonga South West, Owowo, Usan, Erha | International Oil companies and partners | Dey for pipeline |
Nigeria dey push im own companies enter di sector. MEA dey built for am.
Nigerian policy na to put Nigerian companies for di centre of di upstream. Di Nigerian Oil and Gas Industry Content Development Act require operators to use local firms, and Nigerian content for di oil sector don rise from about 5% in 2010 to about 61% in 2026, according to di Nigerian Content Development and Monitoring Board. Di government want more Nigerian operators wey go produce more barrels.
MEA Energy Solutions na exactly dat kind company. Na Nigerian company, wey group wey already dey run trading, trucks, stations and gas for di country dey back, and people wey don work for upstream for years dey lead am. As local entity, MEA dey well placed to benefit from every part of dis shift.
Local content:
As Nigerian company, we stand to benefit from di preference wey dem dey give local firms for projects, services, and partnerships.
Licensing rounds and marginal fields:
NUPRC award 37 out of 50 blocks for dia 2025 round. We join bodi for di last round and we go participate for di next one, dey target marginal field asset.
Asset sales:
Four divestments wey worth ~$4 billion don put Nigerian operators like Renaissance, Seplat, Oando and Chappal into onshore and shallow-water assets wey international Oil companies bin hold before. We wan follow dat path.
Content levy:
1% deduction on qualifying upstream contracts dey fund di Nigerian Content Development Fund, wey dey support local capability.
Experienced team, and group wey fit carry di barrels reach market.
Nigeria get di reserves. Wetin e need na more committed operators wey fit bring fields enter production and keep dem dey produce. Na here MEA fit in.
Together, dis ones go let MEA help Nigeria move towards im production target: by developing fields wey dey idle or under-developed, by employing and training Nigerians, and by keeping more of di value of Nigeria oil and gas inside Nigeria.
Experienced upstream team
MEA don bring upstream professionals wey get hands-on field experience into di team. Dem dey size up opportunities, plan development and manage projects from evaluation reach production.
Projects wey don reach production
Marginal and idle fields na di quickest way to add barrels. Our aim na to take such assets from award to output, to add to di production wey Nigeria need to reach im targets.
Group wey already dey operate here
MEA don already dey Nigeria with 413 people, our own trucks for camps, rigs and generators, and trading desk wey dey source and sell across di region.
Route to market
Oil and gas wey MEA produce fit feed di chain wey we don already dey run: trading, MEA Gas for LNG, CNG and LPG, our fleet and our stations. Na dat be di full chain, from di well to di pump.
Africa, and Nigeria especially, na where di world dey turn to when Middle East get disruption.
About one-fifth of di world oil and gas normally dey pass through di Strait of Hormuz. When di Iran war disrupt am, crude rise above $100 a barrel and Asian refiners turn to West African grades. Nigerian crude and condensate exports average 1.63 million barrels a day for di first quarter of 2026 and above 1.8 million from di second quarter, according to Kpler.
Nigeria get di reserves, di light crude, di Atlantic coast and growing oil-service sector, wey make am one of di few places wey fit add supply at scale. Output still dey below potential because of years of under-investment, and na dat be di opening for committed local operators.
- ~20%
- Of world oil and gas wey dey pass Hormuz
- $100+
- Crude price after di war begin
- 1.8 m b/d+
- Nigeria crude and condensate export dem from Q2 2026 (Kpler)
- 1.75 m b/d
- Kpler production forecast for di second half of 2026
Our step to di source.
MEA Energy Solutions na di group upstream company, wey dey work on Nigerian upstream projects. E don add experienced upstream professionals to di team as MEA dey take im first steps beyond downstream, so di group fit dey present for every stage of di energy chain: upstream, midstream and downstream inside one group. MEA Energy Solutions take part for di last licensing round wey Nigerian Upstream Petroleum Regulatory Commission (NUPRC) run and e go take part for di next round, with target of marginal field asset.
To partner with us on upstream opportunities, send email go upstream@mea-energy.com.
Partner with MEA Energy Solutions.
“I always believe say solutions to most of our problems must come from us.”