NUPRC engages industry operators in reading of field development plans

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday, said it is currently engaging industry operators on the reading of Marginal Oil field development plans.

It said this would help operators identify declining and shut-in wells for the purpose of enhancing oil and gas production.

The Commission’s Chief Executive, Engr. Gbenga Komolafe made the disclosure while giving his address on “Providing Regulatory Oversight in the PIA Era” at the 2022 NOG Conference and Exhibition in Abuja.

His words: “The Commission in its regulatory focus is currently engaging operators on the reading of field development plans, identifying declining and shut-in Wells aimed at enhancing oil and gas production optimisation, gas flaring elimination and monetisation.”

He reminded that the Petroleum Industry Act (PIA) 2021 provides for administrative, institutional development, attractive fiscal regimes and mechanisms for improved health, safety and environment, in achieving peaceful coexistence between operators and host communities.

Komolafe stressed that since take off, the Commission has made efforts to develop necessary regulations aimed at giving meaning to the intents of the PIA.

He noted that in line with provisions of the Act, it held various stakeholders consultative fora before finalizing six priority regulations.

He identified the regulations as; “gas pricing, midstream and downstream decommissioning and abandonment, environmental regulations for midstream and downstream operations, environmental remediation fund, midstream and downstream gas Infrastructure fund and natural gas pipeline tariff.”

Komolafe further disclosed that the law also made provisions for existing producing marginal oil field operators to be granted a separate Petroleum mining license after conversion.

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