The Nigerian Upstream Petroleum Regulatory Commission has attracted investment prospects from Argentina, as the country’s ambassador to Nigeria, Alejandaro Herrero, declared his country’s willingness to tap into the exploration and production of gas in Nigeria
Herrero, who was on a courtesy visit to NUPRC, told Engr Gbenga Komolafe, chief executive, NUPRC, that his country is out to explore every opportunity for partnership and investment within the Nigerian gas fields.
Komolafe, who is unequivocal on the Commission’s drive towards strengthening the Nigerian oil and gas sector, told the Argentinian Ambassador that the Commission has come up with robust regulations and policies to pave way for ease of doing business in accordance with global best practices. According to him, the petroleum fiscal systems in Nigeria is now opting for production sharing contracts (PSC) as a new model of agreement for the exploration and production of oil and gas resources. He added that the Commission will in a matter of weeks commence auction of uncommitted gas fields in Nigeria.
Source: oilreviewafrica.com