To effectively implement the Nigerian Gas Flare Commercialisation Programme (NGFCP), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the establishment of a College of Awardees to leverage the collective experiences of successful entities in the latest bidding process and other industry interest groups.
The Commission Chief Executive, Gbenga Komolafe, said the College of experts would also serve as the forum for connecting other stakeholders and critical support systems to preferred bidders/permit holders, bringing together world-class service providers, including technology providers/original equipment manufacturers (OEMs), financiers and funding entities, and multilateral agencies to foster optimal delivery of the flare commercialisation projects.
Komolafe who disclosed this in Abuja at the inaugural Post Award Forum of Awardees (PAFA) and inauguration of the NGFCP College of Awardees, reiterated the Commission’s belief that the PAFA would facilitate significant opportunities for partnerships and collaborations.
The Forum was attended by NGFCP Preferred Bidders/Awardees, government agencies and functionaries, international partners, multi-lateral agencies, development partners, and a network of the business community comprising investors, technology providers, financiers, service providers.
Hosted from the Live Transmission Centre at the NUPRC’s Headquarters, the event had more than 200 participants from across the World.
The NUPRC Chief emphasised the need for the awardees to secure full title to the relevant flare sites by qualifying for the grant of permit to access flare sites and progress project development towards the start of beneficial operations.
He assured that the Commission would support them all the way and together succeed in the worthy endeavour for shared prosperity.
“We, therefore, encourage all interested entities to take advantage of the platform to network and close deals under a “win-win” value proposition,” he said.
He hinted that the forum would be convened periodically, possibly twice in a month in the first instance, or at the College’s desired frequency as the programme implementation unfolds.
“During subsequent sessions, service and technology providers would be encouraged to engage with awardees and propose implementation modalities that make sense for awardees to collaborate, including clustered models,” he said.
To re-emphasise the significance of the Programme to the awardees, Komolafe announced that the Federal Government was focused on deepening the country’s gas market by ensuring the decarbonisation of upstream operations in line with Nigeria’s Energy Transition Plan.
The NGFCP, he explained, was a critical platform through which these mandates could be achieved, adding that preferred bidders were integral to the process to realise the agenda of the government.
He urged the awardees to take advantage of the current global gas market realities and quickly bring their projects to operation, adding that they must hit the ground running in developing the awarded sites in line with sound engineering and industry best practices.
He assured thatthe Commission would continue to provide a transparent, predictable, and enabling regulatory environment for operators in line with its technical and commercial statutory mandates to optimise the development and exploitation of the nation’s hydrocarbon resources.
“We will offer guidance, steers, and support, all the way. Our doors and ears are always open, and we encourage you to leverage the opportunities we provide as business enablers.
“In demonstration of the Commission’s commitment to global best practices, we have engaged the services of KPMG to provide advisory support for the implementation phase. “The Consultant will bring to bear its broad-based expertise and extensive networks to add value to the Programme. This is in addition to the contributions of our international partners and development institutions – many of whom are present at this Forum – whose ongoing support has proved to be of immense value to the Commission throughout the programme.
He said the Commission has also invited her sister agency, the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA), to speak on available project de-risking opportunities made possible by the Midstream and Downstream Gas Infrastructure Fund (MDGIF).
The establishment of the Fund, he noted, was a testament to government’s drive to migrate from a “penalty-for-revenue” mindset to a value creation orientation.
While encouraging the stakeholders to participate actively, seek clarifications and deepen their understanding of the multi-faceted value of the NGFCP, the CCE assured that the Commission was committed to continually providing regulatory clarity and strategic direction as well as fostering the growth of the gas business in the overall national interest.