The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has achieved a historic first with the conversion of Petroleum Prospecting Licence (PPL) 202 to Petroleum Mining Lease (PML) 66.
NUPRC Chief Executive, Engr. Gbenga Komolafe, said the move, finalised at a signing ceremony in Abuja, marks the first-ever conversion under the Petroleum Industry Act (PIA) 2021. He noted that the development underscores Nigeria’s resilience in the upstream sector and reaffirms the country as a leading destination for oil and gas investment.
The licence, won in the 2020 Marginal Field Bid Round, is held by Suntrust Oil Company, Petrogas Energy Trade W.A Ltd, Somora GTP Ltd, Moore Oil Exploration & Production Nig. Ltd, and Genesis Hydrocarbons Ltd.
