The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Oil Producers Trade Section (OPTS) of the Lagos Chambers of Commerce and Industries have resolved to work together to ensure a smooth implementation of the Petroleum Industry Act (PIA).
NUPRC CEO, Gbenga Komolafe chaired the meeting attended by top OPTS members – Rick Kennedy, Chairman, OPTS/Managing Director, Chevron Nigeria Ltd; Osagie Okunbor, Country Chair, Shell Companies in Nigeria and Mike Sangster, Managing Director, TotalEnergies Nigeria.
Other members of the OPTS in attendance were Richard Laing, Managing Director, ExxonMobil Nigeria Ltd. and Roberto Daniele, Managing Director, ENI Companies in Nigeria.
Komolafe, at the meeting, which held on Wednesday in Lagos, solicited the support of the IOCs chiefs in ensuring effective implementation of the PIA.
Komolafe said: “The implementation of the PIA is very germain to the president and this current administration and he has given us a period of six to 12 months to begin to deliver some of the key deliverables.
“It is against this backdrop that I have decided to host this meeting in Lagos to reinforce my acknowledgment of your association and to solicit your collaboration as industry stakeholders.”
According to him, the vision of the NUPRC is to build a 21st century regulator that will be fair, just and be a critical business enabler in the upstream petroleum sector.
“It is in this wise that we urge you all to join hands with us in building confidence in the industry for robust investment,” Komolafe said.
Responding, Kennedy, who spoke on behalf of the OPTS members said the collaboration was necessary for a better understanding of the key timelines in the Act.
Kennedy listed the areas to include incorporation of development trusts for host communities, installation of flare meters as well as gas flare and monetisation plan.
OPTS is comprised of 29 companies who are the major players in Nigeria’s oil and gas sector.
The event, which to took place at the agency’s head office in Abuja was performed by the commission’s chief executive, Gbenga Komolafe, who was represented by Ibrahim Ciroma, Deputy Director and Head of Corporate Services Strategic Business Unit, NUPRC presented the new signage and logo to stakeholders.
The commission said in a statement on Wednesday that the presentation of the logo was part of NUPRC strategic branding programme.
The logo has simple features and typifies the essence of upstream operations with a rig icon embedded in the logo to reflect the commission’s mandate.
NUPRC, which replaced the defunct Department of Petroleum Resources (DPR), was established to regulate operations including technical, operational and commercial activities in the upstream sector.
“The launch of the commission’s new brand identity is to formally unveil the NUPRC to the world.
“To acquaint and familiarise our investors and stakeholders with a new global regulatory commission of the 21st century that is a regulator business enabler with specific focus on upstream operations,” the statement added.