Komolafe lists achievements of Nigeria Upstream Petroleum Regulatory Commission in one year

Wed, Oct 26, 2022
By editor
2 MIN READ

Oil & Gas

By Anthony Isibor

THE Nigeria Upstream Petroleum Regulatory Commission, NUPRC, has continued to record tremendous achievements in the oil and gas industry one year after its establishment.

Gbenga Komolafe, Chief Executive Officer of the NUPRC, told a news conference on Monday in Abuja that achievements were recorded in the areas of Development and Production in the past one year.

 According to him, the nation’s reserves, which stands at oil and condensate reserves at 37.046 MMMB, indicating an increase of 0.37% compared to 2020 figures, while Life index stands at 60 years. In addition, gas reserves stand at 208.62 TCF, indicating an increase of 1.01% compared to 2020 figures, while Life index stands at 88 years.

 He explained that automation of upstream work processes is almost completed and it is expected to improve the efficiency of the work processes and become operational before the end of this year.

Komolafe disclosed that Ikike first oil was officially celebrated in September 2022 and that it is expected to deliver at peak production, 50,000 barrels of oil equivalent per day by the end of 2022 and that the deployment and commissioning of Aiteo 120kbd barge mounted crude oil processing facility will minimise crude oil theft and vandalism on the NCTL.

He also disclosed that the deployment and commissioning of Tenoil 10kbd Early Production   Facility (EPF) increased crude oil daily production by 10kbd as well as the regularization and commissioning of Halkin 5kbd EPF at Atala OML-46.

He said that there was the inauguration of an integrated industry-wide study to ascertain shut-in wells that could be reactivated in the short, medium, and long-term with the primary aim to boost production and guide investment planning.

In addition, the study was aimed at optimising recovery factor through identification of EOR/IOR candidate wells and recommend low hanging potentials to boost national production. According to him, the study has been concluded and it is in the report writing stage.

A.I

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