The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) held a strategic workshop with key upstream industry players to advance the development of deep and shallow offshore fields towards towards valorising stranded and marginally economic offshore assets through cluster development mechanisms/arrangements. In keeping with its mandate as a business enabler and an opportunity house, the NUPRC launched this initiative towards enhancing resilience and promoting vibrancy in the offshore environment for national growth and prosperity amidst global energy transition imperatives. This strategic initiative in line with the Commision’s Regulatory Action Plan for 2024 and the Near Term ( 2024 -2026), which implementation is underway.
The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe, noted that, bold, strategic actions to expand and sustain production must be taken in allignment with President Bola Ahmed Tinubu’s charge for industry vitality and sustained production growth.
Represented by the Executive Commissioner, Economic Regulations and Strategic Planning, Babajide Fasina, the NUPRC Chief highlighted that, deep and shallow water clusters present a critical opportunity to increase output and attract long-term investment, hence the need for collaboration to scale up exploration efforts, increase daily production volumes, and ensure the responsible development of the country’s hydrocarbon resources.
The Executive Commissioner for Development and Production Engr. Enorense Amadasu, while providing a comprehensive overview of Nigeria’s Upstream Oil and Gas sector, detailed NUPRC’s cluster development strategy aimed at optimizing offshore operations. According to him, the Commission’s cluster or nodal development model is designed to address key technical, operational and commercial bottlenecks and infrastructure limitations in offshore development . In his words: ‘ Our gathering here is to co-create workable solutions and implementable outcomes that would drive offshore development for win-win value proposition’. He called on industry to collaborate with the Commission towards evolving the strategic framework to be championed by an industry-wide committee.
The cluster/ nodal development strategy will prioritize robust infrastructure and technical frameworks, economic and commercial sustainability, supportive regulatory and policy structures and advanced subsurface and deepwater exploration methods, hinged on technology adaptation.
Reaffirming their commitment to the initiative, top executives from leading Exploration and Production Companies lauded the Initiative and pledged to support its implementation to fully tap into Nigeria’s offshore potentials while advocating for accelerated development of Nigeria’s offshore oil & gas reserves in view evolving energy landscape.
