Nigerian Upstream Petroleum Regulator Opposes New Oil Installation Decommissioning Commission
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has voiced its opposition to the proposed establishment of a National Commission for the decommissioning of oil and gas installations. The NUPRC argues that the existing legal framework under the Petroleum Industry Act of 2021 is sufficient to oversee decommissioning activities.
The Director of NUPRC, Emmanuel Macjaja, emphasized that creating a new commission would duplicate functions, increase regulatory fragmentation, and impose unnecessary financial burdens on the federal government. The NUPRC believes that the current regulatory structure provides comprehensive oversight and management of late-life oil field assets.
The NUPRC's stance is aimed at maintaining regulatory clarity and efficiency in the oil and gas sector.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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