The Nigerian Upstream Petroleum Regulatory Commission has announced the relaunch of the Nigerian Gas Flare Commercialisation Programme (NGFCP 2022).
The formal relaunch of the NGFCP 2022 was announced by the commission’s chief executive, Engr. Gbenga Komolafe, and it takes from September 30, 2022.
Recall that NUPRC in August inaugurated a 12-member team to drive and coordinate the NGF, which was conceived in 2016 as one of the strategic initiatives of the federal government to drive the attainment of zero routine gas flaring by 2035 and net zero emissions by 2060 in the country, consistent with President Muhammadu Buhari’s declaration at COP 26.
The commission said it is leveraging institutional experiences and the renewed focus of the Petroleum Industry Act (PIA) 2021 to steer this initiative to successful conclusion in an accelerated manner.
“A comprehensive audit of the flare gas portfolio and facilities’ disposition across the industry, as well as an in-depth assessment of the prevailing operational realities in producing areas and changes in the wider macro-economic environment has been carried out,” Komolafe said in a signed statement.
This, it stated, is aimed towards charting the optimum path forward for the Programme.
To this end, the Commission in the statement announced the issuance of the “Notice of Programme Relaunch” and release of the “Request for Qualification (RFQ)” to signal the commencement of the renewed bid process for NGFCP 2022.
It said the Request for Qualification document is now available on its NUPRC website, dedicated NGFCP website and NGFCP portal.
The RFQ provides updated guidelines that will assist investors to package their Statement of Qualification (SOQ) submissions and enable them to proceed to the next phase of the Programme.
“It is important to state that Existing Applicants would derive value from their previous endeavours on the NGFCP.
“All such Applicants who previously submitted bids under the NGFCP would be deemed pre-qualified once they meet the basic requirements for status validation as stated in the RFQ.
“The NGFCP 2022 is indeed a hybrid of opportunities – preserving value for existing Bidders and expanding avenues for new investors to participate in this first-of-its kind flare auction programme,”it added
The statement said the auction process has been streamlined to enable an accelerated delivery schedule for this exercise with the announcement of winners planned for December 2022.
It added, “This is therefore a call to all existing applicants, bidders, new investors, technology providers, equipment suppliers and the global investment community to take advantage of the immense opportunities that Nigeria’s flare gas offers for guaranteed end-to-end value.
“The Commission will continue to foster collaboration with well-meaning stakeholders to enable and promote growth of the Nigerian oil and gas sector for the benefit of operators, industry players, investors, and in overriding national interest.”