The Nigerian Upstream Petroleum Regulatory Commission has warned that companies awarded flare gas commercialisation sites risk losing their permits if they fail to make substantial progress in developing the assets within one year.
The warning comes as Nigeria intensifies efforts to end routine gas flaring by 2030 and convert gas that would otherwise be burnt into products and services capable of supporting power generation, industrialisation and economic growth.
The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, disclosed this during a working visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja.
According to a statement issued on Wednesday by the NUPRC Head of Corporate Communications and Media, Eniola Akinkuotu, Eyesan presented updates on the implementation of the Nigerian Gas Flare Commercialisation Programme and other key initiatives of the commission.
Eyesan said the regulator would no longer allow flare gas sites awarded under the programme to remain undeveloped indefinitely.
