The Department of Petroleum Resources (DPR), was part of the esteemed guests invited to a policy round table organized by the Center for Petroleum Information at EKO Hotels & Suites Lagos recently.
The theme of the discussion, “Nigeria Oil and Gas: Gaining Traction, Post PIGB”.
The organizers of the round table invited major industry stakeholders and professionals that offered valuable insights and feedback on the theme.
The Acting Director, Mr. Ahmad Rufai Shakur was represented by his Technical Assistant, Dr. Habib Nuhu, who x-rayed the current operational climate of the DPR vis a vis the future of the proposed new regulatory commission based on current dynamics in the Petroleum Industry Governance Bill (PIGB).
In his presentation: “Enlarged, Independent Inspectorate Commission and Future Value Addition”, Dr. Habib made a case for the DPR in the light of the current operating environment, Global perspectives, Post PIGB regulatory environment, Governance of Nigeria Petroleum Regulatory Commission NPRC, Post PIGB value deliverables and Regulatory value proposition.
He also informed the participants at the forum of Federal Government’s initiative on flare gas reduction, Nigerian Gas Flare Commercialization Program (NGFCP) which is key to Government’s zero flares-out agenda by the year 2020.
The NGFCP program is currently at the next stage (Requests for Proposals, RFP) after the completion of the Evaluation of the Statement of Qualification (SOQ). The NGFCP lays out a commercial framework for the Federal Government to sell gas that would otherwise be flared.
Most of the participants at the event agreed that there is urgent need for reforms in the Nigerian Oil and Gas Industry and for the passage of the Petroleum Industry Governance Bill.