SPE Decodes 37 New Oil Blocks’ Execution As Nigeria Targets 3m bpd Output Mark

. Society Rallies 15,000 delegates for NAICE 2026 + candid view Chairman SPE Nigeria Council gave on 13 oil blocks NUPRC returned to basket, as well as the Licensing round’s integrity and transparency

LAGOS — The Society of Petroleum Engineers Nigeria Council, SPE, has declared that its 49th Nigeria Annual International Conference and Exhibition, NAICE 2026, would decode the 37 New Oil Blocks Execution As Nigeria Targets 3 million barrels per day oil output mark.

NOP NIGERIA reports that the Chairman of SPE Nigeria Council, Engr. Francis Nwaochei, who said this in Lagos at the
official flag off of activities for the 49th Nigeria Annual International Conference and Exhibition, NAICE 2026, added that the event had an expectation of 15,000 delegates from across the globe.

Addressing journalists, Nwaochei said that the conference theme, _“Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience,”_ was chosen to reflect the structural shifts reshaping the sector. “Globally, investment flows, technology adoption, geopolitics, and decarbonization strategies are shifting rapidly,” he noted.

For Africa, he argued, resilience must move beyond defense. “Our continent faces the dual imperative of eliminating energy poverty and accelerating industrial growth while managing environmental expectations. These goals cannot be achieved in silos,” Nwaochei stated.

As a neutral technical body, he said SPE Nigeria Council provides the platform to convert strategic imperatives into execution, bringing together regulators, operators, financiers, and technology providers to drive down costs and de-risk investments.

The conference comes at what Nwaochei described as a “transformative juncture” for Nigeria’s energy architecture. Just a week earlier, on July 21, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, concluded the 2025 Licensing Round, awarding 37 oil and gas blocks across mature and frontier basins to 31 preferred bidders.

SPE Nigeria Council commended the Federal Government, Ministry of Petroleum Resources, and NUPRC for delivering what Nwaochei called an automated, market-driven process under the Petroleum Industry Act, PIA.

Fielding questions from newsmen, Nwaochei gave the bid round a strong endorsement. “In terms of transparency, I personally give the last bid round a thumb up. It is the most transparent of the bid rounds we have had as a country,” he said.

He also addressed the return of 13 blocks that attracted no bids. “In any business you do there are terms and conditions and I think the return of 13 blocks into the basket deepens integrity of the bid round. I don’t think it is a failure. I think it is a part of the process and it is an opportunity,” he said.

NAICE 2026, he said, will be the first major industry platform to decode the operational and commercial execution of the newly awarded assets. “Awarding blocks is only the catalyst. Converting exploration licenses into daily producing volumes requires rapid technology deployment and disciplined capital mobilization,” Nwaochei explained.

That execution is critical to Nigeria’s national target of 3 million barrels per day by 2030. He added that the ongoing divestments by International Oil Companies to deepwater have placed indigenous independents at the center of onshore and shallow-water production, now accounting for roughly 60% of national supply.

The downstream is also transforming, with the scaling of private and modular refineries positioning Nigeria as a regional refining hub. Nwaochei stressed the need for “commercial harmony” in enforcing Domestic Crude Supply Obligations under the PIA while preserving contract sanctity for producers.

On funding, he said reaching 3 million bpd will require greenfield developments and subsea tie-backs, not just recovery of shut-in wells. With Western banks pulling back under ESG mandates, he pointed to the African Energy Bank, AEB, expected to operationalize in Abuja by September, as a key solution for energy sovereignty.

Infrastructure security was also highlighted. Nwaochei said technical tools like digital twin monitoring, fiber-optic pipeline surveillance, and automated metering must be combined with Host Community Development Trusts under the PIA to ensure lasting peace in production corridors.

NAICE 2026 will feature a comprehensive technical and business program. It includes pre-conference short courses, over 600 peer-reviewed technical papers on AI, deepwater, reservoir management and carbon capture, and an international exhibition of digital energy tools.

Two executive panel sessions will focus on “Policy in Practice: Aligning Fiscal Strategy, Foreign Investment and Local Content for Sustainable Growth.” A topical workshop will address “The Expanding Role of Independents in Nigeria’s Upstream.”

Specialized sessions for young professionals and women leaders are also planned. The Young Professionals Workshop will focus on innovation and competitiveness, while the Women Leadership Programme will center on empathy and human-centered decision-making.

On energy transition, Nwaochei said SPE Nigeria Council supports a “pragmatic, just, and balanced” approach. “Hydrocarbons will remain vital to driving African industrialization for decades. Concurrently, carbon competitiveness is now a commercial imperative,” he said.

He noted that reducing emission intensity through flare elimination, methane reduction, and asset electrification is essential to keep Nigerian crude competitive as global markets impose carbon border penalties. Gas, he added, remains the country’s vital transition fuel.

In closing, Nwaochei called on investors, operators, researchers, and young engineers to attend. “NAICE 2026 is where Africa’s energy policy is converted into technical execution,” he said. Following the event, SPE will issue an official Communiqué to government and industry to guide evidence-based policy.

NOP NIGERIA