The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that Nigeria is currently championing the decarbonisation of its upstream operations, as a critical tool to sustain investments for energy security and economic development for the benefit of Nigerians in line with national aspirations and consistent with the sustainable development goals of the United nations.
Gbenga Olu Komolafe, the Commission Chief Executive disclosed this at the on-going United Nations Climate Change Conference 2023 (COP28) in Dubai, United Arab Emirates.
In a statement sent Businessday by the commission, Komolafe, who spoke on the topic: ‘driving sustainable upstream operations to achieve just and equitable energy transition’, unveiled the regulatory framework for energy transition, decarbonisation and carbon monetisation for upstream operations in Nigeria.
According to him, the Framework was hinged on seven pillars including; natural gas shift, zero routine gas flaring & methane abatement, carbon market development, technology and innovation, upstream operations efficiency, incentive mechanism, collaboration and risk management.
“I call on all stakeholders, government agencies, operators, international development partners and multilateral agencies to join us as we progress the steady implementation of the Framework within the coming months, which will be underpinned by applicable directives, guidelines, and regulations.
“Interestingly, the implementation of the regulatory framework has already commenced on the heels of the introduction of the gas flare, venting & methane, prevention of waste and pollution regulations 2023 which provides the renewed legislative basis to take firm actions on gas flaring, venting and fugitive emissions,’’ he said.
He noted that the implementation of the 2022 guidelines for management of fugitive methane and greenhouse gases emissions in the upstream oil and gas operations in Nigeria, which was launched at COP27, is achieving commendable outcomes.
Furthermore, the CCE highlighted the success of the ongoing execution of the Nigeria Gas Flare Commercialisation Programme (NGFCP) as a major climate action initiative for Nigeria in the nation’s energy transition pathway, adding that the NGFCP projects when fully executed will mop up 50 percent of Nigeria’s flares accounting for an equivalent of 6-7 million tons of CO2 emission per year.