NMDPRA releases 4 regulations to address safety, funding concerns

To provide better industry guidance, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has introduced four additional regulations in line with the Petroleum Industry Act, 2021 (PIA). These regulations aim to address environmental and safety concerns in the midstream and downstream petroleum sector. The specific regulations introduced are; Midstream and Downstream Petroleum Environmental Regulation 2023: This is designed to ensure that environmental standards and practices are upheld across midstream and downstream petroleum operations.

This also included  the Midstream and Downstream Petroleum Safety Regulation 2023, which prioritises safety measures and procedures in the midstream and downstream sector. 

It also introduced Midstream and Downstream Decommissioning and Abandonment Regulation 2023 that outlines the requirements and procedures for the decommissioning and abandonment of petroleum facilities in the midstream and downstream sector.

The final one is Midstream and Downstream Environmental Remediation Fund Regulation 2023 which sets out the establishment and financial contribution of the Fund for midstream and downstream operations. The fund aims to provide resources for the cleanup, rehabilitation or management of negative environmental impact from petroleum operations nationwide.

These regulations will enhance value, create an enabling environment and deepen activities in the midstream and downstream sector for the benefit of Nigerians.

Therefore, market operators are hereby advised to adhere strictly to these regulations.