• Tue. Apr 23rd, 2024

NUPRC Confirms Stay In Abuja Amidst Speculations

The Nigerian Upstream Regulatory Commission (NUPRC) has clarified that it is not leaving Abuja, dispelling recent speculations. The Commission, with a crucial role in overseeing compliance with petroleum laws and regulations, aims to enhance efficiency and reduce operational costs.

NUPRC, under the leadership of Engr. Gbenga Komolafe, inherited personnel and facilities in Abuja following the implementation of the Petroleum Industry Act. Concerns about relocating some field officers to Lagos were addressed during consultations with stakeholders, including labor unions. The decision is aimed at optimizing the Lagos-based office, reducing operational costs, and improving organizational efficiency.

The move, unfortunately, has been misconstrued and unduly politicized. Engr. Komolafe, dedicated to industry growth, has taken bold steps to implement regulations aligning with the Petroleum Industry Act. These regulations aim to eliminate bottlenecks in regulatory processes and promote seamless upstream petroleum operations.

The Commission, under Engr. Komolafe’s leadership, has attracted investors, contributing to increased oil and gas reserves. As of January 2022, the nation’s oil and condensate reserves stand at 37.046 billion barrels, showing a 0.37% increase from the previous year. Gas reserves also rose to 208.62 trillion cubic feet, indicating a 1.01% increase.

Engr. Komolafe’s efforts align with the Federal Government’s Decade of Gas program, focusing on gas resource development, exploration, utilization schemes, and flare elimination. The Commission has played a pivotal role in assisting projects like Anyala, Ikike, Efe, Utapate, and Akubo Fields, contributing to increased revenue generation.

In 2021, NUPRC generated N2.9 trillion in revenue, marking a 44.82% increase from 2020. The year 2022 saw a further increase to N3.781 trillion, reflecting a 30.38% rise. Plans for a licensing round in 2024 and optimization of automation systems demonstrate NUPRC’s commitment to technological advancement and increased production.

Engr. Komolafe emphasized the agency’s reliance on modern technology and collaborative work programs during the recent PETAN Sub-Saharan Africa International Petroleum Exhibition and Conference. The planned relocation of field officers to Lagos is seen as a strategic move to bring NUPRC closer to industry stakeholders, fostering efficiency while minimizing costs.

The NUPRC encourages endorsement and support for this decision, emphasizing its potential to enhance operational proximity and effectiveness, benefiting both the government and the nation’s oil and gas sector.

Hyacinth Beluchukwu Nwafor

Hyacinth Beluchukwu Nwafor is a seasoned journalist and the CEO/Founder Belch Digital Communications, publishers of Hybrid News Nigeria.

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