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ARTICLE · 27 FEBRUARY 2026

Conversion And Renewal (Licences And Leases) Amendment Regulations 2026

Tope Adebayo LP
Tope Adebayo LP
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The Nigerian Upstream Petroleum Regulatory Commission has issued new Conversion and Renewal Regulations effective February 2026, repealing the 2022 framework. While maintaining the core structure of the previous regulations, the 2026 amendments introduce significant changes to the licensing and leasing regime for upstream petroleum operations in Nigeria.

NigeriaEnergy and Natural Resources
Aderemi Ogunbanjo
Aderemi Ogunbanjo
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INTRODUCTION

The Nigerian Upstream Petroleum Regulatory Commission (the “Commission”) has issued the Conversion and Renewal (Licences and Leases) Amendment Regulations, 2026 (the “Regulations”), effective 27 February 2026. The Regulations repeal and replace the Conversion and Renewal (Licences and Leases) Regulations, 2022 (the “2022 Regulations”).

While the 2026 Regulations largely retain the framework established under the 2022 Regulations, they introduce notable amendments, which are highlighted in this Newsletter.

SCOPE AND APPLICABILITY

The Regulations govern applications for the conversion and/or renewal of upstream licences and leases, including: (i) the conversion of existing Oil Prospecting Licences (OPLs) to Petroleum Prospecting Licences (PPLs) or Petroleum Mining Leases (PMLs); (ii) the conversion or renewal of Oil Mining Leases (OMLs) to PPLs and PMLs; (iii) the conversion or renewal of OPLs; (iv) the conversion of marginal field licences to PPLs or PMLs; (v) the

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