NUPRC boss reaffirms continued support to indigenous oil, gas companies

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the commission will continue to support indigenous oil and companies to grow, especially with the right policies and regulations.

The Chief Executive,  NUPRC Commission, Mr Gbenga Komolafe said this when he paid a visit to the Exhibition Stand of Green Energy International Ltd. at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, U.S. on Wednesday.

He said that the commission would continue to support companies, in the ranks of Green Energy International, with quick turnaround time for licensing and other necessary approvals needed to grow their business.

He said that at a time that funding for oil and gas projects was becoming difficult due to policies around energy transition and a deliberate shift to renewable energy projects, the company had been able to secure one.

According to him, the ability of the company to secure funding for its various projects is a testament that it was on the right track and as such, needed all the right support to grow.

“If you look at what the company has done. You will discover that they have tried to leverage in-country capability and that is in alignment with what NUPRC is doing.

“We have come here as a commission to give them encouragement and to assure the company that new will give them all the backing as a business enabler,” he said.

Komolafe said that NUPRC, as a business enabler, would ensure that its policies and regulations were enabling enough to incentivise businesses to grow.

In growing businesses, he said that companies would be requiring different types of permits and licenses for operational efficiency in reducing unit costs of production in a manner to make them competitive.

He maintained that the NUPRC was working to ensure that the turnaround time for issuing permits and licenses were reduced drastically to increase operational efficiency.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the commission will continue to support indigenous oil and companies to grow, especially with the right policies and regulations.

Chief Executive,  NUPRC Commission,Mr Gbenga Komolafe,  said this when he paid a visit to the Exhibition Stand of Green Energy International Ltd. at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, U.S. on Wednesday.

He said that the commission would continue to support companies, in the ranks of Green Energy International, with quick turnaround time for licensing and other necessary approvals needed to grow their business.

He said that at a time that funding for oil and gas projects was becoming difficult due to policies around energy transition and a deliberate shift to renewable energy projects, the company had been able to secure one.

According to him, the ability of the company to secure funding for its various projects is a testament that it was on the right track and as such, needed all the right support to grow.

“If you look at what the company has done. You will discover that they have tried to leverage in-country capability and that is in alignment with what NUPRC is doing.

“We have come here as a commission to give them encouragement and to assure the company that new will give them all the backing as a business enabler,” he said.

Komolafe said that NUPRC, as a business enabler, would ensure that its policies and regulations were enabling enough to incentivise businesses to grow.

In growing businesses, he said that companies would be requiring different types of permits and licenses for operational efficiency in reducing unit costs of production in a manner to make them competitive.

He maintained that the NUPRC was working to ensure that the turnaround time for issuing permits and licenses were reduced drastically to increase operational efficiency.