Gift Ekwueme
The Commission revealed this in a statement on its official X (formerly Twitter ) handle on Wednesday.
According to the statement, NUPRC has achieved another feat by attracting more investments into the nation’s oil and gas sector.
The statement said the Argentinian ambassador to Nigeria, Mr. Alejandro Herrero, confirmed his country’s disposition to involve in gas exploration and production operations in Nigeria during his visit to NUPRC.
Mr. Herero declared Argentina’s willingness to explore partnerships and investments within the Nigerian gas sector.
While receiving the ambassador, the NUPRC Chief Executive Officer, Engr. Gbenga Komolafe, highlighted the Commission’s commitment towards strengthening Nigeria’s oil and gas sector.
He also highlighted the commission’s regulations and policies to ease investment in the Nigerian oil and gas sector in accordance with global practices.
The NUPRC boss also stated that Nigeria’s current petroleum fiscal practices encourage production-sharing contracts, PSC, as a new model of agreements for the exploration and production of oil and gas resources.
“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 resource,” he said, adding that the Commission will soon commence auction of uncommitted gas fields in the country.
