• Wednesday, June 19, 2024
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Oil regulator institute new guidelines to address environmental, safety concerns

Grey Matter: Reforming the Nigerian Oil and Gas Sector – The 2024 Executive Order and Directives

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has introduced four additional regulations in-line with the Petroleum Industry Act, 2021 (PIA) to address environmental and safety concerns in the midstream and downstream petroleum sector.

First is the Midstream and Downstream Petroleum Environmental Regulation 2023 designed to ensure that environmental standards and practices are upheld across midstream and downstream petroleum operations.

“Midstream and Downstream Petroleum Safety Regulation 2023 prioritises safety measures and procedures in the midstream and downstream sector; the Midstream and Downstream Decommissioning and Abandonment Regulation 2023 outlines the requirements and procedures for the decommissioning and abandonment of petroleum facilities in the midstream and downstream sector,” it stated.

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Lastly, the Midstream and Downstream Environmental Remediation Fund Regulation 2023 sets out the establishment and financial contribution of the Fund for Midstream and Downstream Operations.

“The fund aims to provide resources for the cleanup, rehabilitation or management of negative environmental impact from petroleum operations nationwide,” it stated.

According to the NMDPRA, these regulations will enhance value, create an enabling environment and deepen activities in the midstream and downstream sector for the benefit of Nigerians.