Monday, 06 February, 2023

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Oil majors, investors tasked with tackling gas flaring


The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has organised a Bidders’ Conference/Investors Forum for stakeholders in the sector, to fast track implementation of the Nigerian Gas Flare Commercialisation Programme (NGFCP).

The NUPRC Chief Executive, Gbenga Komolafe, said this in Abuja.

He said the conference would offer stakeholders and investors in the country’s upstream petroleum sector the opportunity to seek clarifications on the programme.

Komolafe said participants in the forum would include qualified applicants, financiers, technology providers, equipment manufacturers, service providers, funders, and other interested entities.

He said it would also facilitate engagements of qualified applicants with technology providers, prospective lenders, financial institutions as well as foster business relationships and partnerships for the overall programme success.

Komolafe added that the NUPRC in August 2022 re-launched the NGFCP 2022, to drive Nigeria’s commitment to end routine gas flaring within the decade, support the imperatives of the Nigeria Energy Transition Plan (ETP) and create value from waste.

To that end, and in reliance on Section 105 (2) of the PIA and similar provisions enabling the Commission in that respect, he said the Commission had published the list of qualified applicants who will proceed to the Request for Proposal (RFP) phase of the NGFCP 2022.

The forum billed for Feb. 2, 2023 in Abuja would hold barely a month after a similar conference in Lagos on Jan. 16, for interested stakeholders and investors in the proposed mini bid round for deep offshore oil fields.

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