The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, says that crude oil and condensate reserves stand at 31.09 billion barrels and 5.92 billion barrels respectively, amounting to a total of 37.01 billion barrels.
Presenting an overview of the Nigerian oil, condensate, associated gas and non-associated gas reserves as at January 1, 2026, Mrs Eyesan said that Associated Gas (AG) and Non-Associated Gas (NAG) reserves stood at 100.21 Trillion Cubic Feet (TCF) and 114.98 TCF, respectively, resulting in total gas reserves of 215.19 TCF.
“The Reserves Life Index is 59 years and 85 years for oil and gas, respectively.
“The reason for the slight change in 1.1.2026 oil and condensate reserves by 0.74 per cent is attributable to production in 2025 and reserves update due to field performance and technical evaluation based on subsurface studies.
“The reason for the increase in 1.1.2026 AG and NAG reserves by 2.21 per cent is largely because reserves update is
based on discoveries and the result of robust reservoir studies.
“I, Mrs Oritsemeyiwa Eyesan, Commission’s Chief Executive, hereby declare the total oil and condensate reserves of 37.01 billion barrels and total gas reserves of 215.19 as the official National Petroleum Reserves Position as of Jan. 1, 2026,” she said.
She added that the Commission, in keeping with its mandate, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity.
GIK/APA