Tope Adebayo LP

Our Seun Fapohunda of the firm’s Energy and Natural Resources Practice Group is attending Phase 4 of the Nigerian Upstream Petroleum Regulatory Commission () Stakeholder Consultation Forum being held at Transcorp Hilton Hotel, Abuja.

In this segment of the Forum, the Federal Government of Nigeria (FGN), through the NUPRC is considering four regulations that would aid the implementation of some fragments of the Petroleum Industry Act (PIA) 2021, especially in the areas of contracts, commercials, revocation of oil and gas licenses.

The four regulations include:
- Draft Petroleum Assignment of Interest Regulations
- Draft Upstream Revocation of Licenses and Lease Regulations
- Draft Upstream Commercial Operating Regulations
- Draft Upstream Petroleum Development Contract Administration Regulations

The NUPRC has stated that it will continue to embark on programmes and policies that will create an enabling environment for growth and more investments in the Nigerian upstream oil and and gas sector.

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