The Federal Government has announced the launch of the 2026 oil licensing round, offering 40 exploration blocks for foreign investors. The blocks span both onshore and shallow water areas.
The move comes as part of efforts to boost oil exploration and attract international investment. The government has not yet released details on the exact locations of the blocks. The licensing round is expected to run for several months, with applications due by a specified deadline.
This initiative follows previous rounds of oil licensing, which have seen varying levels of success in attracting foreign capital. The government has emphasized the need for increased investment to meet domestic energy demands and support economic growth. The 2026 round is also seen as a step toward diversifying the energy sector and reducing reliance on imports.
