• Says only 24% of oil output, 19% of gas currently produced deep offshore
•NMDPRA: Regulatory certainty key to attracting investment
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that the Deep Offshore Oil and Gas Project Incentives (Tax Remission) Executive Order 2026 recently signed by President Bola Tinubu has the potential not only to unlock $50 billion in investments but can also create an additional one million barrels per day of crude oil and condensate from deep offshore fields.
The Executive Commissioner, Development and Production of the NUPRC, Enorense Amadasu, said this on NTA during an interview, a statement by the agency’s spokesman, Eniola Akinkuotu, stated yesterday.
