…..Says Policy On Gas Emission Reduction Underway
The Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has expressed optimism that Nigeria can meet the Organisation of Petroleum Exporting Countries’ (OPEC’s) oil production quota, in spite of the current insecurity challenges in the upstream sector of the hydrocarbon resources industry.
The NUPRC boss, who made this remark during a media chat on Wednesday in Abuja, maintained that despite losing between 80,000 to 100,000 barrels of oil per day to direct theft or shut-ins, the country can still meet the oil cartel’s production quota.
Komolafe explained that based on NUPRC’s target of getting about 40 to 50 percent of the shut-in volume, the government would be able to add about 500,000 barrels per day to what is currently being produced by the country.
He said: “Our projection is that we can hit over two million barrels and surpass our OPEC quota.”
The industry expert further disclosed that findings by the commission showed that about 1.2 million barrels of crude oil were consistently being shut-in by producers in oil wells in the Niger Delta region due to the incessant pipeline vandalism and oil theft.
Komolafe hinted that an operations committee had been set up to identify shut-in wells to be able to have feasibility around the wells.
He clarified: “So, our engagement is aimed at identifying the wells that could be re-streamed in a manner that we could have some barrels added to our existing production.
“In the process we identified the fact that we can readily in the shortest possible time re-stream wells with which about 400,000 barrels of oil can be brought on stream.
“With our discussion with the operations committee, there is the possibility of bringing not less than 400,000 barrels of oil per day”, the NUPRC boss added.
He projected that if that was done, Nigeria could be meeting her OPEC quota which currently is about 1,800 barrels of oil per day.
Komolafe said that the commission’s collaboration with the Nigerian National Petroleum Company Limited (NNPCL) and operators of the shut-in-wells had been positive and re-assured that the commission can harness the above measures to beef up the country crude oil production to surpass the Organisation of Petroleum Exporting Countries’ (OPEC’s) quota.
He explained that the wells were shut-in to reduce production beneficial to criminals.
“That exercise revealed that you have about 1.2mb of oil that are shut-in consistently as a result of the impact of crude oil theft.
The NUPRC boss also hinted that the NUPRC’s policy document to facilitate emission reduction and mitigation targets was being developed.
He said: “This policy document which is to enable the Commission drive emission reduction and mitigation targets of the National Determined Contributions (NDCs) will be approved and launched within the shortest practicable time.”
Komolafe explained that the commission was collaborating with relevant agencies to undertake projects in the area of Climate Change/Green House Gas (GHG) emissions management, including supporting the review and assessment of the national GHG emissions as part of series of workshops that led to revision of the Nationally Determine Contributions (NDCs) policy.
In addition, he recalled that the document was submitted to the United Nations Framework Convention on Climate Change (UNFCCC) ahead of 26th Conference of Parties (COP26) summit in Glasgow, Scotland 2021.
