The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the introduction of four new regulations aimed at governing the activities of the midstream and downstream sectors of the country’s petroleum industry. The new regulations were introduced in line with the Petroleum Industry Act, 2021 (PIA), and they build upon the six regulations unveiled in March of the same year, according Kimchi Apollo – NMDPRA’s Corporate Communications Manager.
The first among the newly introduced regulations is the Midstream and Downstream Petroleum Environmental Regulation 2023, designed to uphold and enforce environmental standards and practices across all midstream and downstream petroleum operations. This measure aims to ensure that the industry conducts its activities in a manner that is environmentally responsible and sustainable.
The second regulation is the Midstream and Downstream Petroleum Safety Regulation 2023, which places a strong emphasis on safety measures and procedures within the industry. By prioritising safety, the NMDPRA aims to reduce the risk of accidents and incidents during petroleum operations and transportation, safeguarding both workers and the general public.
The third regulation, known as the Midstream and Downstream Decommissioning and Abandonment Regulation 2023, outlines the requirements and procedures for the decommissioning and abandonment of petroleum facilities. This regulation is said to be crucial to ensure that petroleum facilities are properly decommissioned at the end of their lifespan, reducing potential hazards and environmental risks.
And lastly, the Midstream and Downstream Environmental Remediation Fund Regulation 2023 has been introduced to establish and manage a financial contribution fund for environmental remediation efforts resulting from petroleum operations. The fund is intended to provide resources for the cleanup, rehabilitation, or management of any negative environmental impacts caused by petroleum activities nationwide.
NMDPRA emphasized that these new regulations are expected to enhance the overall value of the industry, create an enabling environment for growth, and deepen activities in the midstream and downstream sectors for the benefit of Nigerians.
The Agency also issued a stern warning to Market Operators to strictly adhere to these regulations, as they are vital for fostering a safer and more environmentally conscious petroleum industry in Nigeria.