Nigerian NUPRC presents two divestment options for IOCs from 26 oil blocks, with compensation to communities required for prompt approval.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) outlines two options for International Oil Companies (IOCs) divesting from 26 Nigerian oil blocks, with an estimated 8.211 million barrels of oil reserves. If IOCs compensate affected communities, they can receive prompt approval. NUPRC aims to ensure divesting companies have resources and expertise to manage blocks and accurately identify and assign end-of-life liabilities.
May 03, 2024
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