Some of 2020 marginal field bid round investors are on the stage of striking their first oil. It would be recalled that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the bid mid-last year.
Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, at the weekend confirmed to The Nation that the country was on the verge of increasing its oil and gas production with new production projects coming on stream.
Asked how far those awarded the Petroleum Prospective Licenses (PPL) had gone developing the fields, he confirmed that the commission had approved the Field Development Programmes (FDP) for some investors while others were on the waiting list.
“We are equally aware that some of the awardees, happily enough, are in the process of recording their first oil. So, that is a success and, as I speak in terms of status, some of them have already forwarded their (FDPs) Field Development Programmes and some of the FDPs have been approved,” he said.
According to him, the core focus of the NUPRC is how to increase national oil and gas production. Komolafe, an engineer, said the commission had been discussing with other investors to emulate the thriving ones to go beyond the award of PPL to production.