We’ll support indigenous oil coys with right policies –NUPRC affirms

We’ll support indigenous oil coys with right policies –NUPRC affirms


The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said that it will support indigenous oil and companies with the right policies and regulations to grow.

NUPRC Commission Chief Executive (CCE), Mr. Gbenga Komolafe,  stated this when he paid a visit to the exhibition stand of Green Energy International  Limited at the ongoing Offshore Technology Conference(OTC) in Houston Texas.

He said his agency will continue to support companies in the ranks of Green Energy International with quick turnaround time for licensing and other necessary approvals needed to grow their business.

Komolafe said NUPRC as a business enabler will ensure that its policies and regulations are enabling enough to incentivise businesses to grow. In growing businesses, he said companies would be requiring different types of permits and licenses for operational efficiency to reduce unit cost of production  in a manner to make them competitive and that.

He maintained that to increase operational efficiency, the NUPRC is working to ensure that the turnaround time for issuing permits and licenses are reduced drastically.

Also speaking, the Chairman of Green Energy International, Prof.  Anthony Adegbulugbe, said the company which was incorporated in 2006  is the operator of the Otakikpo marginal field in Oil Mining Lease(OML) 11.

He explained that the company was set up to explore all the oppourtunities in the oil and gas value chain for the overall benefit of its stakeholders and the Nigerian economy.

According to him, the mandate of the company is to create localised domestic markets based on small scale gas opportunities in out local host communities, Nigeria and Africa at large.

‘‘In 2010, the Federal Government decided to implement a World Bank study on Small Scale Gas Utilisation and the Otakikpo Marginal Field was awarded to Green Energy to undertake the pilot project. The implementation of this project will involve the installation of LPG processing and bottling plants,’’.

The Green Energy Chairman said since it began operations, it has accumulated  5 Million Cumulative man-Hours without lost-time injury (LTI), saying that it has become one of the requirement for approaching banks for facilities to be sure there are no issues of  restiveness that would impact your operations negatively.