Business & Economy

NMDPRA Releases 4 New Regulations On Environmental Remediation Fund, Others

Published

1 year ago

Jul 23, 2023.

Eko Hot Blog reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled four new regulations that would amongst other things guide the operations of the midstream and downstream environmental remediation fund.

NMDPRA announced the development in a statement signed by its General Manager, Corporate Communications and Stakeholders, Mr. Kimchi Apollo, on Sunday.

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According to Apollo, the other regulations would govern decommissioning and abandonment, environmental and safety issues.

He explained that the regulations aim to address environmental and safety concerns in the midstream and downstream petroleum sector.

The NMDPRA spokesperson stated that, “The specific regulations introduced are as follows:

“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.

“Midstream and Downstream Petroleum Safety Regulation 2023: This prioritises safety measures and procedures in the midstream and downstream sector.

“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.

“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 cleanup, rehabilitation or management of negative environmental impact from petroleum operations nationwide.”