Oil & Gas
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has established a College of Awardees to leverage the collective experiences of successful entities in the latest bidding process of the Nigerian Gas Flare Commercialisation Programme (NGFCP) and other stakeholders in the NGFCP’s implementation journey.
The College will also serve as the forum for connecting other stakeholders and critical support systems to preferred bidders/permit holders, bringing together world-class service providers, including technology providers/original equipment manufacturers (OEMs), financiers and funding entities, and multilateral agencies to foster optimal delivery of the flare commercialisation projects.
The Commission Chief Executive (CCE), Engr. Gbenga Komolafe who made this known at the inaugural Post Award Forum of Awardees (PAFA) and inauguration of the NGFCP College of Awardees, in Abuja, restated the organisation’s belief that the PAFA would facilitate significant opportunities for partnerships and collaborations.
The Forum was attended by NGFCP Preferred Bidders/Awardees, government agencies and functionaries, international partners, multi-lateral agencies, development partners, and a network of the business community comprising investors, technology providers, financiers, service providers. Hosted from the Live Transmission Centre at the NUPRC’s Headquarters, the event had more than two hundred (200) participants from across the World.
Engr. Komolafe emphasised the need for the awardees to secure full title to the relevant flare sites by qualifying for the grant of permit to access flare sites and progress project development towards the start of beneficial operations. He assured that the Commission would be with them all the way and together succeed in the worthy endeavour for shared prosperity.
“We, therefore, encourage all interested entities to take advantage of the platform to network and close deals under a “win-win” value proposition.”
He hinted that the forum will be convened periodically, possibly twice in a month in the first instance, or at the College’s desired frequency as the programme implementation unfolds. “During subsequent sessions, service and technology providers would be encouraged to engage with awardees and propose implementation modalities that make sense for awardees to collaborate, including clustered models.”
“At this juncture, may I re-emphasise the significance of this Programme to our esteemed Awardees. Please be informed that the Federal Government is focused on deepening our gas market and ensuring decarbonisation of upstream operations in line with Nigeria’s Energy Transition Plan. The NGFCP is a critical platform through which these mandates can be achieved, and your preferred bidders are integral to this journey to bring to fruition the agenda of the government.
“You are also urged to take advantage of the current global gas market realities and quickly bring your projects to operation. I urge you to hit the ground running in developing the awarded sites in line with sound engineering and industry best practices.
“We at the Commission will continue to provide a transparent, predictable, and enabling regulatory environment for operators in line with our technical and commercial statutory mandates to optimize the development and exploitation of the nation’s hydrocarbon resources. We will offer guidance, steers, and support, all the way. Our doors and ears are always open, and we encourage you to leverage the opportunities we provide as business enablers.
“In demonstration of the Commission’s commitment to global best practices, we have engaged the services of KPMG to provide advisory support for the implementation phase. The Consultant will bring to bear its broad-based expertise and extensive networks to add value to the Programme. This is in addition to the contributions of our international partners and development institutions – many of whom are present at this Forum – whose ongoing support has proved to be of immense value to the Commission throughout the programme.
“We have also invited our sister Agency – the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA) to speak on available project de-risking opportunities made possible by the Midstream and Downstream Gas Infrastructure Fund (MDGIF). The establishment of the Fund is a testament to government’s drive to migrate from a “penalty-for-revenue” mindset to a value creation orientation.
While encouraging the stakeholders to participate actively, seek clarifications and deepen their understanding of the multi-faceted value of the NGFCP, the CCE assured that the Commission is committed to continually providing regulatory clarity and strategic direction as well as fostering the growth of the gas business in the overall national interest.
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-October 20, 2023 @16:51 GMT |
Tags: Engr. Gbenga Komolafe NGFCP
