Nigeria’s upstream oil and gas industry has a bright future but needs the right legal framework and a shift in policy to achieve the greatest level of economic recovery and energy security. Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), provided the assurance on Monday in Lagos at the 45th Nigerian Annual International Conference And Exhibition, which was hosted by the Society of Petroleum Engineers, Nigerian Council. According to him, the recently enacted Petroleum Industry Act, PIA, 2021 has generous fiscal provisions aimed towards attracting investment, not just for oil development but for harnessing of the rich gas potentials of Nigeria which is among the highest in the world. As we drive for investment in cleaner hydrocarbon development, without prejudice to maximum economic recovery strategies for development of oil resources, the commission empowered by the PIA has placed its focus on four cardinal areas for sustainable gas development and utilisation”, he said, He listed the focal areas as gas … Continue reading Future Of Nigeria’s Upstream Oil And Gas Is Assured – FG