Operators in the downstream and midstream segment of the Nigerian petroleum sector have been tasked to stick strongly to industry laws and operating standards or be visited with the full weight of the law.
The Board Chairman, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Idare Ogan, gave the charge in Abuja on Wednesday, at the launch of the Midstream and Downstream Oil & Gas Industry Service Permit and the Gazzeted Regulations for the Midstream & Downstream Petroleum Industry.
According to him, operational laxity would not be tolerated as enforcement of standards would be total in the overall interest of the sector and country at large.
He said the launched regulations cover all operational aspects of the Petroleum Industry Act (PIA) and would stimulate growth in all aspects of the petroleum sector.
In his remarks at the event, Farouk Ahmed, Authority Chief Executive (ACE), NMDPRA, said the six regulations enjoy the buy-in on relevant stakeholders, adding that they would bring clarity into the sector, improve business processes and also the ease of doing business.
Also speaking at the event, Dr Joseph Tolorunse, the Authority Secretary/Legal Adviser listed the six regulations as Midstream and Downstream operations regulation, which is saddled with regulating the operations of the companies in the Nigerian Midstream and Downstream Petroleum sector.
“It also provides procedures for the grant of licences, permits, authorisations and payment of fees; and provide sanctions and penalties for Non-Complianc”, he explained.
“Another regulation is Transfer of License and Permit Regulation. “Petroleum Measurement Regulations, among others.”