The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is intensifying efforts to increase crude oil production through its Project One Million Barrels Initiative by reactivating dormant oil wells and accelerating upstream activities across the sector.
NUPRC chief executive, Engr. Gbenga Komolafe, revealed that through deliberate regulatory interventions and strategic collaboration with industry operators, Nigeria is steadily regaining lost production volumes. The commission has set an ambitious target to increase the nation’s crude oil production to 2.5 million barrels per day by 2026 as part of a comprehensive strategy aimed at repositioning Nigeria’s oil and gas sector for growth, transparency, and sustainability.
Represented by Kingston Chikwendu, head of Regulatory and Statutory Compliance at the Commission, Komolafe disclosed that current unreconciled daily output averages between 1.7 and 1.83 million barrels per day. “With our Project One Million Barrels Initiative, we are leveraging the combined capacities of various operators to collaborate and drive up production, moving beyond operating in silos,” he stated.
The initiative involves fast-tracking regulatory approvals, improving operational efficiencies, and reactivating previously abandoned or dormant fields. Since the implementation of the Petroleum Industry Act (PIA) in 2021, the NUPRC has issued 19 key regulations to bring structure and transparency to the oil and gas sector.
Komolafe highlighted that fiscal reforms, including competitive royalty rates and zero hydrocarbon tax for certain projects, have been instrumental in attracting new capital and making projects viable. Regarding crude oil theft and supply chain accountability, the Commission has approved 37 new evacuation routes and intensified cooperation with security agencies, resulting in significant reductions in illegal activities.
As part of Nigeria’s energy transition, the NUPRC is advancing gas-focused programs, including the Decade of Gas and the Nigerian Gas Flare Commercialisation Programme, to end routine gas flaring by 2030 and reduce methane emissions by 60% by 2031. The Commission has also revitalized the National Data Repository, Africa’s largest digital petroleum data bank, to support investment decisions and reduce exploration risks.
Source: leadership.ng