NUPRC Consults To Regulate PIA Implementation

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is setting the stage for the release of regulations to facilitate implementation of the Petroleum Industry Act (PIA) 2021.
The commission made this known during a stakeholders’ engagement forum on draft regulations under PIA, which ended in Abuja at the weekend.
The draft regulations were prepared by NUPRC in conjunction with the Presidential Steering Committee (PSC) on the PIA; and the consultative forum was tailored to harvest inputs and considerations of oil and gas stakeholders on the draft regulations for smooth implementation of the PIA.
Speaking at the meeting, being the first in a series to be conducted by the commission in line with its focus on prioritising regulations to meet the timelines in the PIA, NUPRC’s Chief Executive, Engr Gbenga Komolafe, explained that the event – stakeholders consultation for Regulations – is a statutory prescription and a critical milestone in the implementation of the PIA.
The first phase of the engagement involved discussions around issues dealing with royalty, licensing rounds, fees and rentals, burning issues on implementation of host community fund in line with Section 235 of the PIA and finalising the 2020 bid round through issuance of PPL in line with Section 94 (2) of the PIA.
Others include the Nigerian Upstream Fee and Rent Regulations, Petroleum Licensing Round Regulations, Domestic Gas Delivery Obligations Regulations, Nigeria Conversion Regulations, Nigeria Royalty Regulations and the Nigeria Host Community (Commission) Regulations.
“For us as a law-abiding regulator and in compliance with the provisions of the PIA, this occasion is convened for stakeholders to make robust input and have discussions around the entire draft Regulations leading to finalising the regulations for the Nigerian Upstream Oil and Gas Industry in fulfilment of the provisions of the PIA”, Komolafe stated.
According to the Minister of State for Petroleum Resources, Timipre Sylva, government has a mandate of ensuring sound management of the oil and gas sector, considering the key role the sector plays in revenue generation for the country. It was on the basis of this that the PSC played a critical role in collaborating with the commission in drafting the first set of regulations for review.
The minister, therefore, called for more innovative ways in fossil fuel exploitation and exploration in Nigeria, just as he decried the challenges posed by huge divestments in the hydrocarbon explorations by oil majors in the past due to global energy transition.
Also at the opening ceremony, were the Chairman Senate Committee on Upstream Petroleum Resources, Chairman Senate Committee on Host Communities, Chairman House Committee on Upstream Petroleum Resources, Chairman House Committee on Host Communities and some members of the National Assembly.
The PIA was signed into law August 16, last year.