In a recent meeting with the Managing Director NNPC E&P Limited, (NEPL). Engr. Gbenga Komolafe, the Commission Chief Executive emphasized the critical need for fostering synergy, collaboration and optimization in Oil and Gas sector. The meeting, which took place at Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Head office, Jabi Abuja on February 01, 2024, provided a platform for the CCE to advocate for strategic partnership and enhanced operational efficiency in the industry.

During the discussion, the CCE highlighted the significance of collaboration among industry stakeholders, including government agencies, exploration and production companies, and service providers. He stressed that by collaboration, these entities can leverage their respective expertise, resources, and technologies to drive innovation and address the challenges facing the sector.

Engr. Komolafe also underscored the importance of optimization in Upstream operations, citing the potential for cost savings, improved productivity, and environmental sustainability. He encouraged the adoption of advanced technologies and best practices to streamline business processes, enhance asset performance, and mitigate risk associated with exploration and production activities.

Furthermore, the CCE expressed his commitment to promoting a conducive business environment that encourages investment, good asset stewardship and local capacity development. He emphasized the need for regulatory frameworks that support sustainable growth and social responsibility within the industry.

In response, the Managing Director, NEPL Mr. Nicolas Foucart who was on familiarization visit acknowledged the value of Engr, Komolafe’s recommendations and expressed willingness to explore collaborative opportunities that align with the organization strategic objectives.

The meeting concluded with a consensus on the importance of ongoing dialogue and cooperation to drive positive change and unlock the full potential of the upstream oil and gas sector in Nigeria.