The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to enforce the “Drill-or-Drop” provisions of the Petroleum Industry Act (PIA) 2021.
To this end, the Commission is urging holders of non-performing licenses from the 2020 Marginal Field Bid Round, 2022/2023 Mini Bid Round and 2024 Licensing Round to meet their statutory work commitments or risk losing their licences.
The notice is contained in a circular signed by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, and addressed to holders of PPLs awarded under the 2020 Marginal Field Bid Round, 2022/2023 Mini Bid Round and 2024 Licensing Round.
The circular with reference number NUPRC/1127/VOL.13/55 was issued in furtherance of the national drive to increase production” and to remind licensees of the finite term of their licences and their obligations to execute approved work programmes within the timelines prescribed by law.