To address environmental and safety problems in the midstream and downstream petroleum sectors, the federal government has announced the adoption of four new laws.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja made the announcement on behalf of the federal government on Sunday.
It stated that the rules adhered to the Petroleum Industry Act of 2021.
NMDPRA said “The specific regulations introduced are, “A Midstream and Downstream Petroleum Environmental Regulation 2023: This is designed to ensure that environmental standards and practices are upheld across midstream and downstream petroleum operations.
“Midstream and Downstream Petroleum Safety Regulation 2023: This prioritises safety measures and procedures in the midstream and downstream sector.
“Midstream and Downstream Decommissioning and Abandonment Regulation 2023: This outlines the requirements and procedures for the decommissioning and abandonment of petroleum facilities in the midstream and downstream sector.”
It added, “Midstream and Downstream Environmental Remediation Fund Regulation 2023: This regulation sets out the establishment and financial contribution of the fund for midstream and downstream operations.”
The primary objective of the Environmental Remediation Fund is to allocate resources towards the mitigation, restoration, or effective control of adverse environmental consequences resulting from petroleum operations on a national scale.
“These regulations will enhance value, create an enabling environment, and deepen activities in the midstream and downstream sector for the benefit of Nigerians. Therefore, market operators are hereby advised to adhere strictly to these regulations,” the NMDPRA stated
