The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has been conferred with The Sun 2023 Public Service Award.
Receiving the award on Saturday in Lagos, Komolafe who expressed happiness over the award, said it would propel him and his team to deliver higher service to the nation.
“This award will further encourage us to dedicate ourselves to the service of the Federal Republic of Nigeria,” he said.
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“The task of nation building is a collective effort. It’s not for people in government alone. It’s actually for all the citizenry. And this award speaks to the reward mechanism in our society. When the resourceful ones are rewarded, it further inspires others to be resourceful and continue to do the task of nation building.”
Addressing journalists, Komolafe noted that since coming onboard as the commission chief executive of NUPRC, he and his team have been working assiduously in ensuring the effective implementation of the statutory mandate of the commission.
The NUPRC boss stated that as at 2011, the rig count in Nigeria was just about 11, but today it is about 30, which indicates vibrant activities in the industry.
“If you listen to feedback from the industry, you’ll recall that as at 2011, we had just about 11 rigs. As at today, we’ve about 30 rigs in the Nigerian upstream. That’s huge success for us. And you know that rigs measure vibrancy of activities in the industry,” Komolafe said.
He stressed that the commission under his watch has boosted investors’ confidence by bringing certainty and predictability into the industry.
“We’ve attracted capex running into billions of dollars into the Nigerian upstream. We’re happy that we’ve success story to tell just in about less than two and a half years,” he said.
Since its creation under the PIA in 2021, NUPRC has introduced about 17 regulations which had been gazetted into law. They are aimed at providing a regulatory environment that assures efficiency, predictability, clarity and effectiveness to oil and gas industry in the country.
While all the 17 regulations are key to driving growth in the industry, Komolafe is very passionate about the Measurement Regulation.
According to him, effective implementation of the regulation will save Nigeria billions of dollars.
“Within a record time, we’ve churned out over 17 regulations with the objective of giving meaning to the intent of the Petroleum Industry Act. So, these regulations serve to ensure certainty and predicability in the activities of the industry as against pre-PIA regime,” he stated.
“Of all the regulations, of course all of them are dear to my heart, but I’m particularly very proud about the Measurement Regulation, which is a noble initiative.”
Having held roles as Group General Manager, Special Duties at the Nigerian National Petroleum Corporation (NNPC) now NNPC Limited; Group General Manager, Crude Oil Marketing Division; Executive Director (Commercial), Pipelines and Petroleum Marketing Company (PPMC); General Manager, Operations, Petroleum Equalisation Fund (PEF), General Manager, Operations, the Petroleum Products Pricing Regulatory Agency (PPPRA), among several others, Komolafe has played key roles in strategic policy formulation and implementation in the oil and gas industry.
As part of measures to increase the nation’s crude oil production, NUPRC under the leadership of Komolafe in December, 2022 launched the 2022/2023 mini bid round for seven Deep Offshore blocks otherwise called Petroleum Prospecting Licences (PPLs).
The seven deep offshore open blocks are: PPL-300-DO, PPL-301-DO, PPL-302-DO, PPL-303-DO, PPL-304-DO, PPL-305-DO and PPL-306-DO.
Speaking in January during an engagement with the Oil Producers’ Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG), he said the commission will conclude the 2022/2023 mini bid round as well as conduct a new bid round of 12 blocks located in the continental shelf and deep offshore this year.
The commission has also concluded the 2020 marginal field bid round. About N200 billion was made for the Federal Government from 57 oilfields offered. This is in addition to $7 million in signature bonuses and others.
Experts believe that this will help the Federal Government to achieve its target to increase Nigeria’s oil reserves from about 37 billion barrels to 50 billion barrels as well as increase proven gas reserves from about 209 trillion cubic feet to 250tcf in the short to medium term.