Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said it is upgrading and deploying the National Production Monitoring System (NPMS) facility toward curbing crude oil theft in Nigeria.
A statement issued on Wednesday in Lagos by Mr Paul Osu, disclosed that Mr Gbenga Komolafe, Chief Executive, (NUPRC), spoke recently in Abuja on efforts by the commission to address the menace of crude oil theft.
Komolafe said the deployment of NPMS, which is an electronic system used in monitoring oil and gas production in Nigeria, was being carried out in collaboration with other relevant agencies.
According to him, this ensures accurate and reliable reporting of crude oil production.
He noted that the National Data Repository (NDR) within the NUPRC serves as the data warehouse for Nigeria’s oil and gas industry.
Komolafe said, “The Value of Information (VOI) is for purpose of oil and gas investment decision.
“For example, NDR facilitates data for bid rounds in line with the statutory mandates of the NUPRC under the PIA to prospective investors, thus enabling informed investment decision and shortening upstream business lifecycles.”
He also said that NUPRC had taken technological advancements into consideration in its work processes.
Komolafe said that currently, the Technological Adaptation Unit within Engineering and Standards Department engages service providers on new technologies that could be implemented in the petroleum industry.
“In addition, we have established more data related initiatives in the NDR such as National Improved Oil Recovery Centre (NIORC).
“This focuses on utilising big data to drive reduction in cost per barrel.
“Also, the Integrated Data Mining and Analytics Centre (IDMAC) was setup to assess and analyse data for informed business decisions,” he said.