BY Bunmi Aduloju
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has introduced four new regulations in line with the Petroleum Industry Act (PIA), 2021.
In March 2023, the agency had signed six regulations to support sustainable growth and investment in the midstream and downstream sectors.
According to a statement by Kimchi Apollo, NMDPRA’s spokesperson, the four additional regulations aim to address environmental and safety concerns in the midstream and downstream petroleum sector.
One of the rules, tagged, ‘the midstream and downstream petroleum environmental regulation 2023’, is designed to ensure that environmental standards and practices are upheld across midstream and downstream petroleum operations.
‘The midstream and downstream petroleum safety regulation 2023’, ensures the prioritisation of safety measures and procedures in the midstream and downstream sector.
The authority also introduced the midstream and downstream abandonment regulation 2023, which showcases requirements and procedures for the decommissioning and abandonment of petroleum facilities in the midstream and downstream sectors.
“The midstream and downstream environmental remediation fund regulation 2023 sets out the establishment and financial contribution of the fund for midstream and downstream operations,” the statement reads.
“The fund aims to provide resources for the cleanup, rehabilitation or management of negative environmental impact from petroleum operations nationwide.”
Apollo said the regulations would enhance value, create an enabling environment and deepen activities in the midstream and downstream sectors for the benefit of Nigerians.
“Therefore, market operators are hereby advised to adhere strictly to these regulations,” he added.
This website uses cookies.