Oredola Adeola
Engr Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, has hinted that the country’s potential in traditional hydrocarbon resources, green and blue hydrogen, solar, wind, biomass, and other renewable energy sources is crucial for its sustainable energy future.
The NUPRC’s boss said, “Although the actual national production currently averages 1.33 million barrels of oil per day and 256 thousand barrels of condensate per day.“The national technical production potential currently stands at 2.26 million bpd, and the current OPEC quota is 1.5 million bpd.
“Thus, the Commission is taking strategic measures to arrest some challenges confronting us in order to boost production and meet the potential,” Komolafe said.
The NUPRC Boss stressed the importance of ensuring energy justice, equity, and sustainability as Nigeria and other resource rich economies navigate this evolving landscape.
He highlighted that the Petroleum Industry Act, 2021 (PIA), is a cornerstone initiative aimed at promoting transparency, efficiency, and innovation for sustainable development.
Discussing strategic measures to boost production, Komolafe further outlined Nigeria’s efforts to enhance production and tap into its full potential despite challenges.
These initiatives, according to him, includes, transparency improvements, collaborative programme administration, accelerated field developments, optimized production, and the adoption of enhanced Oil recovery technologies.
