NUPRC Deepens Support For Local Firms To Drive Up Petroleum Output

The Nigerian Upstream Petroleum Regulatory Commission has promised to deepen its support for indigenous petroleum producers in order to increase the country’s overall output.

The commission’s chief executive, NUPRC, Oritsemeyiwa Eyesan, said this when the chairman of Ingentia Energies, Valentine Ugbeide, visited the Commission’s corporate headquarters on Wednesday.

Eyesan noted that Ingentia Energies was the first company to convert a Petroleum Prospecting Licence (PPL) to a Petroleum Mining Lease (PML) under the 2020 Marginal Field Licensing Round.

Eyesan called on its management not to slow down.

“My biggest objective is to resolve challenges and enable indigenous operators to unleash their potential,” she stated, adding, “I am committed, and you can continue to count on our support.”

In his remarks, the Ingentia Energies chairman said the company was planning to increase its production capacity to 7,000 bpd by June this year and to 30,000 bpd by 2030.

“The target by 2030 is to be somewhere in the neighbourhood of 30,000bpd,” the chairman added.

Ugbeide added that the company was also drilling an additional two oil wells this year.

He further stated that the company was fully aligned with the NUPRC’s target of ending routine gas flaring in the near term.

“We are connecting our pipeline to the Trans-Niger Pipeline. A 29km pipeline and we have a pipeline permit from the NUPRC and an agreement with Renaissance,” he said.