Oil & Gas
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says its integrated industry-wide study to reactivate shut-in wells in the short, medium, and long-term is at the report writing stage.
The NUPRC said the integrated industry-wide study which it inaugurated to ascertain shut-in wells that could be reactivated had been concluded and was at report writing stage.
The Commission Chief Executive, Mr Gbenga Komolafe, said this on Monday in Abuja in a news conference to highlight the achievements of the commission since inception in 2021.
According to the CCE, the primary aim is to boost oil production and guide investment planning.
“In addition, the study aims to optimise recovery factor via identification of EOR/IOR candidate wells and recommend low hanging potentials to boost National production.
Komolafe said that it had awarded 47 petroleum prospecting licences to winners of marginal fields during the 2020 marginal field bid round.
He said the commission ensured the development of model licence and model lease in conjunction with Legal and Compliance and Enforcement (C&E) SBU and renewal of OMLs 128, 130, 132, 133 and 138.
He said that the move was critical in the development and increased production of oil and gas.
According to Komolafe, the commission has within the past one year achieved, among others, declaration of the nation’s reserves which stands at oil and condensate reserves 37.046 MMMB.
“This indicates an increase of 0.37 per cent compared to 2020 figures. Life index stands at 60 years.
“Gas reserves of 208.62 TCF indicates an increase of 1.01 per cent compared to 2020 figures. Life index stands at 88 years,’’ he said.
He further said that the automation of upstream work processes was almost completed.
According to him, it is planned to improve the efficiency of our work processes and become operational before the end of year 2022.
“Ikike first oil was officially celebrated in September 2022. It is expected to deliver peak production of 50,000 barrels of oil equivalent per day by the end of 2022 ,” he added.
Komolafe also said that the commission had ensured the deployment and commissioning of Aiteo 120kbd barge mounted crude oil processing facility to minimise crude oil theft and vandalism.
He added that the deployment and commissioning of Tenoil 10kbd Early Production Facility (EPF) would increase crude oil daily production by 10kbd.
Komolafe also said that the development of the advanced cargo declaration regime, and Crude oil and Liquefied Natural Gas Tracking (COLT) are also in process.
“We also ensured the completed establishment of ELI-AKASO crude oil export terminal,’’ he said.
The NUPRC boss said that publishing of up-to-date data on national crude oil production on the commission’s website ensured transparency of data and information.
According to him, it has provided accurate volume to both internal and external users.
“In line with the provisions of section 108 of the Petroleum Industry Act, (PIA 2021), NUPRC commenced engagement and sensitisation of all operators to submit gas flare elimination and monetisation plan.
“10 high impact technologies, innovation, and solutions have been successfully qualified and adapted into the Nigerian oil and gas industry.
“The high impact technologies aim to increase oil discovery and production, reduce cost of pipeline maintenance and integrity threshold among others,’’ he said.
He restated the commission’s commitment to ensure that all petroleum industry operations were properly monitored to ensure that they are in line with national goals and aspirations.
Komolafe stressed the need to ensure that health safety and environment regulations conform with national and international best oil field practice.
He also emphasised the need to maintain records on petroleum industry operations, particularly on matters relating to petroleum reserves, production/exports, licences and leases.
He pledged that the commission would continue to advise government and relevant agencies on technical matters and public policies that may have impact on the administration and petroleum activities.
Komolafe said that NUPRC would ensure timely and accurate payments of rents, royalties and other revenues due to the government while maintaining and administering national data warehouse. (NAN)
A.I
Tags: Mr Gbenga Komolafe Nigerian Upstream Petroleum Regulatory Commission
