The Nigerian Upstream Petroleum Regulatory Commission has recovered more than 50 fallow oil fields for fresh development after enforcing Petroleum Industry Act provisions on acreage management. The commission reiterated plans to enforce the drill-or-drop policy to end the warehousing of blocks awarded to operators. The announcement was made in Abuja during a panel session as part of the commission's fifth anniversary. Renaissance is expected to double crude output to 500,000 barrels per day and domestic gas to 1 billion cubic feet per day.
Related Articles
Don't miss out on breaking stories and in-depth articles.