The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to implement a "drill or drop" policy
Aimed at revitalizing the oil sector and ensuring optimal use of assets to boost government revenue. The Chief Executive Officer of the NUPRC, Mr. Gua Kumaf, announced this during a meeting with a delegation from the Independent Petroleum Producers Group, led by Chairman Abdul Razak Issa, at the commission's headquarters in Abuja.
Mr. Kumaf emphasized that oil and gas operators must either begin production within a specified time frame or relinquish their licenses. He also outlined several policies enacted since the Petroleum Industry Act was introduced, including the automation of regulatory processes such as the granting of licenses and permits, which have significantly reduced bureaucratic delays.
