After 6 Years Wait, FG Selects 42 Companies for Game-Changing Gas Flare Commercialization Programme
- The NUPRC has finally selected 42 companies for its Gas Flare Commercialisation Programme
- The selected companies will be in charge of 49 Flare Sites located in various oil-producing areas
- Additionally, some other companies have been placed on reserve status in case the preferred bidders fail to meet the necessary requirements
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that 49 flare sites have been awarded to 42 companies during the Nigerian Gas Flare Commercialisation Programme (NGFCP) auction process.
This is coming almost seven years after the NGFCP was developed to address environmental concerns from oil companies' operations in Niger Delta.
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The programme was also created to help tap into the economic potential of gas flare sites.
NURPC awards certificates to companies
In a statement, NUPRC said the successful companies have received their award letters and will play a central role in developing 49 flare sites.
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A breakdown of the approvals shows that out of the 42 selected companies, 38 have been allocated 40 flare sites for standalone single flare site development, while the remaining 4 will oversee the development of 9 sites as clusters.
Additionally, there are reserve bidders companies that will step in if the preferred bidders fail to meet the stipulated terms and conditions outlined in the Request for Proposal (RFP, Punch reports.
Part of the statement reads:
“The management of NUPRC indicated on Tuesday, September 12, 2023, that award letters are already being transmitted to the respective successful entities through the appropriate channels.
“Following the evaluation of SOQs, a total of one hundred and thirty-nine (139) applicants were deemed successful and awarded the Qualified Applicant status.
Subsequent'ly, in the first quarter of 2023, the Commission issued the Request for Proposal (RFP) to enable qualified applicants to put together their respective proposals for any of the forty-nine (49) flare sites on offer.
“Eighty-eight (88) entities, comprising individual companies and consortiums responded to the RFP and submitted a total of one hundred and thirty-seven (137) proposals, each containing technical, commercial and financial documentation for one or more of the forty-nine (49) flare sites for either standalone or cluster development."
NNPC sets a date for completion of Port Harcourt refinery
In another report, Mele Kyari, the Group Managing Director of the Nigeria National Petroleum Company (NNPC), promised that the Port Harcourt refinery would be ready by March 2023.
He made the promise before the House of Representatives on the resumption of investigation on the state of the country’s refineries.
Kyari, who was represented by General Manager, of Refineries & Petrochemicals, Mustapha Yakubu, reaffirmed to the lawmakers on the expected date of completion.
Source: Legit.ng
