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.
This contained in a statement signed by the General Manager, Corporate Communications and Stakeholders’ Management Kimchi Apollo.
The specific regulations introduced are as follows:
a. 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.
b. Midstream and Downstream Petroleum Safety Regulation 2023: This prioritises safety measures and procedures in the midstream and downstream sector.
c. Midstream and Downstream Decommissioning and Abandonment Regulation 2023: This outlines the requirements and procedures for the decommissioning and abandonment of petroleum facilities in the midstream and downstream sector.
d. Midstream and Downstream Environmental Remediation Fund Regulation 2023: This regulation sets out the establishment and financial contribution of the Fund for Midstream and Downstream Operations. The fund aims to provide resources for the clean up, 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.