24 May 2024

NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION AND SLUMBERGER FORGE STRATEGIC PARTNERSHIP TO BOOT OIL PRODUCTION

In a drive towards its goal of boosting Nigeria’s oil production, the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe received a delegation from Slumberger (SLB) Global led by its global president, Mr. Olivier Le Peuch, at the Commission headquarters in Abuja.

The high-level meeting between the NUPRC Chief and officials of Slumberger underscored the Commission’s commitment to fostering strategic partnerships that would enhance Nigeria’s oil production and operational efficiency.

The purpose of the visit was to explore specific areas of collaboration and partnership between both organizations.

The CCE engaged SLB Global in an extensive discussion aimed at cultivating a long-term partnership that aligns with the Commission’s goals and regulatory framework.

During the meeting, Engr. Gbenga Komolafe emphasized that the NUPRC adopts a participatory and collaborative approach to facilitate ease of doing business in the oil sector. He highlighted several of the Commission’s achievements since its inception in 2021 under the Petroleum Industry Act (PIA). Key achievements include the establishment of 17 regulations aimed at improving industry standards and operational efficiency. Additionally, the re-engineering of the Nigeria National Data Repository (NDR) has been a significant milestone, promoting the monetization of oil blocks and aligning regulations with global energy transition initiatives and carbon footprint reduction goals.

The CCE also mentioned the ongoing licensing rounds as a testament to the Commission’s proactive approach in regulating the sector. One notable achievement expounded upon was the NUPRC’s commitment to eliminating gas flaring and commercializing flared gas under the Nigerian Gas Flare Commercialization Programme (NGCP). This initiative has designated 49 flare sites for commercialization, demonstrating the Commission’s dedication to environmental sustainability and resource optimization.

Speaking on behalf of SLB Global, Mr. Olivier Le Peuch expressed satisfaction with the Commission’s regulatory framework and indicated SLB Global’s readiness to collaborate. He reiterated the importance of such partnerships in unlocking Nigeria’s onshore and offshore oil potential, particularly through leveraging advanced technology.

Areas of mutual interest discussed included the development of Nigeria’s frontier basins and the integration of innovative technologies to enhance exploration and production efficiencies.

At the end of the meeting, it was agreed that a contact team would be established to further investigate and identify more opportunities for collaboration. The team will focus on expanding the scope of mutual interests and ensuring that both organizations can effectively work together to achieve their shared objectives.