Overview
The Nigeria Upstream Petroleum Decommissioning and Abandonment Regulations 2026 were issued under sections 232 and 233 of the Petroleum Industry Act 2021, repealing the 2023 Regulations and introducing significant changes for upstream operators, investors and lenders.
For operators, investors and lenders, the principal changes concern earlier decommissioning planning, revised funding and custody requirements, and clearer consequences for transfers and non-compliance.
This insight examines the changes introduced under the 2026 Regulations, the distinction between D&A Plans and Programmes, funding obligations, custody and administration requirements, transaction and financing implications, tax considerations, enforcement and penalties, and practical steps for operators, investors and lenders.
