The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a possible gas exploration and production partnership between Nigeria and Argentina.
The Commission made the announcement via iys official (X) handle on Wednesday, November 22, 2023.
In the statement, NUPRC announced that it would partner with Argentina on gas exploration and production after the latter expressed interest in doing business with the country.
This development is coming on the heels of the MoUs between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership.
According to the statement, the NUPRC has achieved another milestone by attracting increased investments in Nigeria’s Oil and Gas Sector.
It stated further that the Argentinian Ambassador to Nigeria, Mr. Alejandro Herrero, expressed his country’s keen interest in participating in gas exploration and production within Nigeria.
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The Ambassador who made this known during his visit to the NUPRC, conveyed Argentina’s eagerness to explore partnerships and investments in Nigeria’s gas fields. In response, the Commission Chief Executive, Engr. Gbenga Komolafe emphasized the Commission’s commitment to fortifying Nigeria’s Oil and Gas Sector.
He also informed the Argentinian Ambassador about the Commission’s robust regulations and policies.
These measures are designed to facilitate smoother business operations in alignment with global standards.
Komolafe also said that Nigeria’s petroleum fiscal systems now favour production-sharing contracts (PSC) as a fresh model for agreements concerning oil and gas resource exploration and production.
Additionally, he mentioned the Commission’s imminent plan to initiate the auction of uncommitted gas fields in Nigeria within the next few weeks.
By Babajide Okeowo
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