Federal Republic of Nigeria Official Gazette PDF

Extraordinary Federal Republic of Nigeria Ofﬁcial Gazette . N0. 142 Vol. 108 Lagos -- 27th August, 2021 Government Notice No. L34 ’0 The following is pubiished as supplement to this Gazette : 6 Page Short Title Act No. PetroleumlndustryAct,2021.. .. .. .. .. .. .. A121-3?0 Primed and Pubiished by The Federal Government Printer, Lagos Nigeria FGP {38108202111300 Annual Subscription from ist January. 202! is Local : #1100030 ; Overseas :NGO,5EJO [Surface Mail} *7530030 [Second Class mail}. Present issue *6500 per copy. Subscribers who Wis to obtain GHZL’HE after lst January should apply to the Federal Government Printer. Lagos for amended Subscriptions. A 121 "PETROLEUM mommy ACT, 2021 ARRANGEMENT 0s SECTIONS Section : L u CHAPTER I-GOVBRNANCB AND INSTITUTIONS Nun-I PART I— VESTING AND OBJECTIVES Vesting ogPetroleum. . Objectives. PART Ii—MlNiSTER or PEROLEUM Powers of the Minister. PART III—THE COMMISSION Estabi ishment ofthe Nigerian Upstream Regulatory Commission. Application ofthis Part. Objectives of the Commission. 11. i2. i3. i4. 15. 16. 1?. l8. 19. 20. 21. 22. 23. _ '1 ova-3 24. Technical regulatory functions of the Commission. Commercial regulatory functions of the Commission. Functions of the Commission for frontier basins. Powers of the Commission. Governing Board of the Commission. Functions ofthe Board of the Commission. Remuneration and allowances of the Board of the Commission. Suspension or removal of members of the Board of the Commission. Resignation of a Non-Executive Commissioner. Vacancy on the Board of the Commission. Fiiling of vacancy on the Board of the Commission. Commission Chief Executive and Executive Commissioners. Employees ofthe Commission. Terms and conditions of service in the Commission. Remuneration and allowances of employees ofthe Commission. Statement of estimated income and expenditure of the Commission. Secretary to the Commission. Fund of the Commission. . 25. Notice to the Commissions—5.7.5.3."; - .. _ A .1 .- . A 122 2021 N o . 6 Petroleum Irrdusﬂ'yAct” 2021 26. Special powers ofthe Commission. ' . 2?. Special Investigation Unit. 28. Indemnity of off eers of the Commission. : PART I‘ll—Tue Auratmrnz 29. Establishment of the Nigerian Midstream and D u'nstream Petroleum RegulatoryAuthority. 30. Application of this Part. 3 l . Objectives of theAuthority. 32. Functions of the Authority. 33. Regulations by the Authority. 34. Governing Board of the Authority. o‘— .33. Functions of the Board of the Authority. 36. Remuneration and allowances of members ofthe Board of the Authority. 37. Suspension or removal of a member of the Board of the Authority. 38. Resignation of a non-executive member of the Board of the Authority. 39. Vacancy on the Board of the Authority. 40. Fill ing of vacancy on the Board of the Authority. 41. Authority Chief Executive and Executive Directors of the Authority. 42. Employees of the Authority. 43. Terms and conditions of service in the Authority. 44. Remuneration and allowances of employees of the Authority. 45. Statement of estimated income and expenditure of the Authority. 46. Secretary to the Authority. 47. Fund of the Authority. 48. Notice to the Authority. 49. Special powers of the Authority. 50. Special Investigation Unit. 51. Indemnity ofoPﬁcers of the Authority. 52. The Midstream and Downstream Gas Infrastructure Fund. Paar V—THE NIGERIANNM‘IONAL PETROLEUM COMPANY LIMITED 53. 54. 55. 56. 57. 58. 59. Nigerian Nationai Petroieum Company Limited. Transfer of assets and liabilities. Appointment of NNPC Limited as agent of NNPC. Subsistence of guarantee. Transfer of employees and conditions of serviceThe Board ofNNPC Limited. Composition of the Board ofNNPC Limited. Committees of the Board of NNPC Limited. 61. Application of principle of corporate governance. 62. Annual audit of NNPC Limited. Petroleum ﬁrdrrsn'y Aer, 2021 2021 No. 6 63 Responsibilities of the Board of'NNPC Limited. 64. Objectives ofNNPC Limited. 65. Establishment of incorporatedjoint venture companies. malaise zﬂAbMINISTRATION PART Im—GENERAL ADMINISTRATION 66. Objectives. 6?. Management of petroleum resources. PART Il—ADMINISTRATION or UPSTREAM PETROLEUM OPERATIONS AND ENVIRONMENT 68. 69. 70. 71. 72. I, J. M. 75. i6. W. '38. 79. 80. 81. 82. 83. 84. 85. 86. 87. 88. 89. 90. 91. 92. Administration of acreage and vesting of data. National grid system. Licences and leases. Petroieum exploration licence. Petroleum prospecting licence. Bidding process. Award process. Licensing round guidelines. Modei licence and model lease. Duration and area of petroleum prospecting licence. Work commitment, commercial discovery and significant gas discovery. Commercial discovery and field development plan. Unitisation. Petroleum mining leases. Exclusive right to conduct operations. Confidentiality. Power to‘ enter into contracts. Model contracts. Duration and renewal of lenses and licences. Conditions for renewal of petroleum mining leases. Relinquishment. Surrender of licence or lease. Rights of way relating to upstream petroleum operations. Rights of way reserved for the Commission. Voluntary conversion of an oil pr05pecting licence to a petroleum prospecting licence or oil mining lease to petroleum mining lease. 93. Relinquishment upon renewal or conversiOn oFan oil mining lease. 94. Marginal field. 95. Assignments, mergers, transfers and acquisitions. 96. Grounds for revocation of licence or lease. 9?. Notice of default prior to revocation. A 123 A 124 2021 No. 6 98. 99 100. 101. 102. 103. 104. 105. Permian" IndustryAcr, 2021 Administration of a revoked producing lease. Power of revocation of participating or shareholders interest. Fees, royalties, rents and other payments to Government. Damage to protected and venerated objects. Environmental management. Financial contribution for remediation of environmental damage. Gas ﬂaring penalties. Prohibition of ﬂaring or venting of natural gas. 106. Measurement of ﬂared neutral gas. 107. 108. 109. 110. Exemption. Natural gas ﬂare elimination plan.‘ Domestic crude oil supply obligations Domestic gas delivery obligations. PART ill—GENERAL ADMINISTRATION or MIDSTREAM AND DOWNSTREAM _PETI;0LEUM OPERA-nons- 111. 112. 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. Matters reiating to licence applications. Advertisement of licence applications. Licensing regulations. Conditions in licences or permits. Compensation for acquisition of iand. General non-discrimination provisions. Assignment or transfer of licence or pennit. Suspension and amendment of conditions in a licence or pennit. Surrender of licence or permit. Grounds for the revocation of a licence or permit. Notice of default prior to revocation. Tariﬁprinciples. Tariﬂ'methodology. Approval and publication of charging stnictures. PART lV—«Aommsrmmon or MIDSTREAM AND DOWNSTREAM GAS OPERATIONS 125. Activities requiring a licence for midstream and downstream gas operatioas. 126. Special regulations for midstream and downstream gas operations. 127. Rights of way reiating to midstream and downstream gas Operations. ‘35 'ﬁi'ltlsu‘ ‘~ $51.“ is Pelroleam Industry Aer, 2021 . . b4. 135. 136. B7. 138. l39. 140. E4}. 142. MS. 144. 145. I46. 147. 148. 149. 150. 151. 152. l53. l54. l55. 56. 157. 158. 159. 160. 16] . 162. 163. 164. 165. 166. 167. l68. 2021 No. 6 Surface rights reserved for the Authority relating to midstream and ' downstream gas operations. Grant of a gas processing licence. General duties of the holder ofa gas processing licence. Conditions applicable to a gas processing licence. Grant of a bulk gas storage licence. General duties of a bulk gas storage licensee. Conditions applicable to a bulk gas storage licence. Grant of gas transportation pipeline licence. General duties of a transportation pipeline owner. Conditions applicable to a gas transportation pipeline licence. Grant of gas transportation network operator licence. General duties of a gas transportation network operator. Powers of a transportation network operator. Conditions applicable to a gas transportation network operator licence. Grant of a wholesale gas supply licence. General duties of a wholesale gas Supplier. Rights ofa wholesale gas supplier. Conditions applicable to a wholesale gas supply licence. Grant of retail gas supply licence. General duties of gas retailer. Grant of gas distribution licence. General duties of a gas distributor. Rights of the gas distributor. Conditions applicable to a gas distribution licence. Arrangements for gas distribution. Domestic gas aggregation licence. Functions of the domestic gas aggregates Establishment of the aggregator. Gas purchase orders. Price conditions of gas purchase orders. Wholesale customers. Trading and settlement of wholesale gas. Gas network code. Access related to tnidstream and downstream gas operatious. Conditions for the provision of open access in relation to gas operations. Disputes in relation to access. Customer protection. Provision of service to customers. Transfer of customers. Natural gas prices for the strategic sectors and gas distributors. Gas based industries gas price. A 125 A 126 2021 No. 6 169. l 70. 171. 172. i73. Petroleum IndustrvAci, 2021 Power to regulate and review prices. Pricing principles in relation to gas. Public service obligations related to policy issues. Public service levy. Domestic gas demand requirement. PART V—Aommsramon OF MIDSTREAM AND DowNSTREAM PETROLEUM LIQUIDS OPERATIONS 174. Activities requiring a licence for midstream and downstream petroleum liquids operations. li'5. Special regulations for midstream and downstream petroleum liquids operations. 1‘26. Rights of way relating to midstream and downstream petroleum liquids operations. 177. Surface rights reserves for the Authority for midstream and dowastrcam petroleum liquids operations. liS. Petroleum liquids midstream network code. 179. Third party access relating to midstream and downstream petroleum liquids operations. petroleum to relation in 180. Conditions for the provision of open access liquids operations. 181. National strategic stocks. 182. Operating stock. l83. Grant of a crude oil reﬁning licence. 184. General duties of a cmde oil reﬁner. l85. Access rights. l 36. Couditions applicable to a crude oil reﬁning licence. lS'L Grant of a bulk petroleum liquids storage licence. l88. General duties of a bulk storage licensee. 189. Conditions applicable to a bu iii petroleum liquids storage licence. 190. Grant of petroleum liquids transportation pipeline licence. l91. General duties of a petroleum liquids transportation pipeline owner. 192. Couditions appi icable to a petroleum liquids transportation pipeline licence. 193. Grant of a petroleum liquids transmutation network operator licence. l94. General duties of a petroleum liquids transportation network operator. 195. Powers of a petroleum liquids transportation network operator. 196. Conditions applicable to a petroleum liquids transportation network operator licence. 19?. Grant of a wholesale petroleum liquids supply licence. 198- General duties of a wholesale petroleum liquids supplier. 199. Rights of a wholesale petroleum liquids supplier. 200. Conditions applicable to a wholesale petroleum liquids supply licence. Perroiemn ﬁrdrrsnjv Act, 202] 2021 No. 6 201. Grant of licence for distributiou of petroleum products. 202. General duties of petroleum product distributor. 203. Grant of a licence to construct and operate a facility for retaii supply and distribution ofpetroienm products. 204. Grant of a licence to construct and operate a facility for the production of petrochemicals. 205. Pricing regime and power to regulate tariffs. 206. Wholesale prices for petroleum products. 207. Pricing principles in relation to petroleum products. 203. Publication of prices. PART VI—OTHER Mamas RELATED TO MIDSTREAM AND DOWNSTREAM OPERATIONS 209. 2l0. 21}. 212. 213. 214. 215. Public service obligations. Competition and market regulation. Power to prevent anti-competitive behavior. Separation of certain licenced activities. Non-discrimination among customers. Considerations for exercise of the Authority’s powers. Power to serve notice, issue “cease and desist" order. PART VII—COMMON Paowsrons FOR UPSTREAM, MlDSTREAM AND DOWNSTREAM PL—TRQLEUM OPERATlONS Consultation for regulations. Co ntravem ion and enforcement of conditions of leases, licences or permits where it appears. Mandatory registration. Register of licences, permits and authorisations. Preparatiou of leases, licences, permits and authorisations. Effective date and authentication of licences, permits and authorisations. Register of memorials and interests. Effect of registration. Public access to the registry. Radioactive materials. Default approvals. Disclosure of conﬁdential or other information. Offences. Penalties. Refusal to furnish, return or supply infermation. Power to issue administrative penalties. Abandonment, decommissioning and disposal. Decommissioning and abandonment fund. A127 A 128 2021 No. 6 235. 235. 236. 23?. 233. 239. 240. 24! . 242. 243. 244. 245. 246. 24?. 243. 249. 250. Petroleum Industry Act, 2021 CHAPTER 3—HOST COMMUNITIES DEVELOPMENT ObjectiVes and regulations. Incorporation ofhost communities” development trusts. 'I'imeframe for'incorporation of host communities development trust. Transfer of settlor’s interest and obligations Subject to host communities development trost obligation. Faiiure to incorporate host communities development trust. Objectives ofhost communities development trust. Sources of funding for petroleum host communities development trust. Matters on which the funds may be utilised. The Board of Trustees, composition and management. Duties and functions of the Board of Trustees. Aliocation of ﬁinds. Matrix for distribution of trust fund. Engagement of fund managers. Management committee, composition and powers. Duties and functions of the management committee. Host communities advisory committee and composition. Duties and functions of the host communities advisory committee. 251. Host communities needs assessment. 252. 253. 254. 255. 256. 257. Host communities development plan. Financial year of the host communities development trust. Accounts and audit. Mid-year and annual reports. Exemption from income tax. Deduction of payment for petroleum host community deveiopment. CHAPTER 4—v-PETROLEUNI INDUSTRY FISCAL FRAMEWORK PART I—OBJECTIVES AND Aomntsrnmon 258. Objectives. 259. Administration. PART II—«HYDROCARBON TAX 260. Application of this Part. 261. Charge of hydrocarbon tax. 262. Ascenainment of crude oil revenue, adjusted proﬁt, assessable proﬁts and chargeable proﬁts. ' 263. Allowable deductions. 264. Deductions not allowed. 265. Assessabie proﬁts and iosses. 266. Chargeable proﬁts and allowances. Petroleum ﬁrdumjz Act, 202] 2021 N . 6 PART HI—ASCERTAMNT or CHARGEABLE TAX 267. Changeable tax. 268. Additional chargeable tax payable in certain circumstances. PART IV_ASCERTAH¢NIENT or CHARGEABLE PROFITS AND CONSOLIDATION FOR TAX PURPOSES 269. 270. 27 l . 272. Artiﬁcial transactions. Pas-production cost. Trade or business sold or transferred. Consolidation of costs and taxes. PART V—Pensous CHARGEABLE 273. 274. 2'75. 276. Partnerships. Company wound up. Avoidance by transfer. Indemniﬁcation of representative. PART VlﬂAPPLICABILITY, Accomrs AND PARTICULARS 277. 278. 279. 280. 28 l . 282. 283 . 284. 285. 286. 28 7. Preparation and delivery of accounts and particulars. Power of the service to request further information. Power to call for returns and books. Returns of estimated tax. Extension of periods for making returns. Assessment of tax payable. Additional assessments. Making of assessments. Notices of assessment. Errors and defects in assessment and notice. Tax computationPART VII—Arrears 288. Appeals to TaxAppeal Tribunal. 289. Assessment to be ﬁnal and conclusive. PART VHF—COLLECTION, RECOVERY AND REPAYMENT or T M: 290. 29 l292. 293. 294. 295. Procedure in cases vlrbere objection or appeal is pending. Time within which payment is to be made. Penalty for non-payment of tax and enforcement of payment. Collection of tax after determination ofobjection or appeal. Suit for tax by the service. Relief in respect of error or mistake. A 129 , A 130 Petrol’eamfndnsnjv Act, 2021 2021 No. 6 296. . Repayment of tax. -' PART IXHOFFENCES AND PENALTIES 297. 293. 299. 300. 301. Penalty for defaults. Penalty far making incorrect accounts. False statements and returns. Penalties for offences by authorised or unauthorised persons. Tax to be payable notwithstanding any proceedings for penalties. PART X—Arrucnnon or COMPANIES INCOME TAX TO PETROLEUM Orsnmous Genera! requirement ofcompanies engaged in petroieum operations to pay companies income tax. PART XI—GENERAL PROVISIONS 303. 304. 305. 306. Generai application of this Part and other matters. Regulations, ruies and forms. Fiscal stabilisation. Royalty. CHAPTER 5~MISCELLANEOUS PROVISIONS 307. 308. '309. 3l0. 3i]. 3i2. 313. 314. 315. 3l6. Legal proceedings. Pre—action notice. Consequentiai amendments. Repeals. Saving provisions. Transfer of assets and liabii ity to the Commissiou. Transfer of assets and liability to the Authority. Transfer of employees and conditions of service. Movement of staff of the institutions. Transfer of existing host communities development projects and host communities deveiopment schemes. 317'. Transitional and savings provisions. 3l8. Interpretation. 319. Citation. SCHEDULES A 131 PETROLEUM 1NDUSTRY ACT, 2021 ACT No. 6 AN Act to PROVIDE LEGAL, GOVERNANCE, REGULATORY AND FiSCAL Emotions FOR THE NIGERIAN PETROLEUM INDUSTRY, THE DEVELOPMENT or Host COMMUNITIES ; AND FOR RELATED MATTERS [16th Day of August, 202 l ] Commence- ment. ENACTED by the National Assembly of the Federal Republic of Nigeriaw CHAPTER i—GOVERNANCE AND INSTITUTIONS PART i—OBJECTIVES AND APPLICATION l. The property and ownership of petroleum within Nigeria and its territorial waters, continental shelf and exciusive economic zone is vested in Vesting of petroleum. the'Governrnent of the Federation of Nigeria. 2. The objectives of this Chapter are to— Objectives. (a) create efficient and effective governing institutions, with clear and separate roles for the petroleum industry; ((3) establish a framework for the creation of a commercially oriented and proﬁt-driven national petroleum company; (c) promote transparency, good governance and accountability in the administration of the petroleum resources of Nigeria ; (d) foster a business environment conducive for petroleum operations ; and (e) deepen local content practice in Nigeria oil and gas industry. PART II—-—MINISTER or PETROLEUM 3. (l}~—The Minister shall—(a) formulate, monitor and administer government policy in the petroieum industry ; (6) exercise general supervision over the affairs and operations of the petroleum industry in accordance with the provisions of this Act ; (c) report develOpments in the petroleum industry to the government; (d) representNigeria at intemationai organisations on petroienni matters; (9) promote an enabling environment for investment in the Nigerian petroleum industry ; (f J negotiate treaties or other international agreements on matters pertaining to petroleum on behalf of the Government ; Powers o f the Minister. A 132 2921 No. 6 Petroleum Industry Act, 2021 (g) Upon the recommendation of the Commission, grant petroleum prospecting licences and petroleum mining leases through the processes established in this Act; (It) upon the recommendation of the Commissiou and pursuant to the provisions of .is Act and the regulations, revoke and assign interests in petroleum prospecting licences and petroleum mining teases ; (i) delegate in writing to the Chief Executive of the Commission or Authority any power conferred on the Minister by or under thisAct ; (i) upon the recommendation of the Commission or Authority approve. the fees for services rendered by the Commission or Authority in regulations ; and (k) upon the recommendation of the Commission or the Authority, direct in writing the suspension of petroleum operations in any area— (i) until arrangements to prevent danger to life or property have been made to his satisfaction, or (if) where in his opinion, a contravention of th is Act or any regulation made under this Act has occurred or is likely to occur. (2) The Minister may order a cutback of the levels of crude oii or condensate production in the context of international oil pricing agreements supported by Nigeria. First Schedule. (3) The Minister shall have rights of pre—emption of petroleum and petroleum products marketed under any licence or lease in the event of a national emergency under the First Schedule to this Act. (4) The Minister shall give general pol icy directives to the Commission on matters concerning upstream petroleum operations and to the Authority on matters relating to midstrearn and downstream petroleum operations as well as matters related to cooperation among the two entities in line with the provisions ofthisAct and the Commission and the Authority shall comply with such directives. (5) The Minister shall cause the general policy directives issued under subsection (4) to be published in the Federal Government Gazette. PART Iii—THE COMMISSION Establishment ofthe Nigerian Upstream Petroleum Regulatory Cmnmission. 4.———( I) There is established theN igerian Upstream Petroleum Regulatory Commission (in this Act refe to as “the Commission”) which shall be a body corporate with perpetual succession and a common seal. (2) The Commission shall have the power to acquire, hold and dispose of property, sue and be sued in its own name. Petroleum Industry Act, 202] 2021 No. 6 A 133 (3) The Commission shali be responsibie for the technical and commercial regulation of upstream petroleum operations. 5. The objects and functions ofﬂie Commission in this Part are limited to upstream petroleum operations. 6. The objectives of the Commission shall be to—— (n) regulate upstream petroleum operations including technical, Operational and commercial activities ; Application of this Part. Objectit es of [he Commission. (5) ensure compliance with all app]ieable laws and regulations governing upstream petroleum operations ; (6) ensure that upstream petroleum operations are carried out in a manner to minimise waste and achieve optimal government revenues ; ((1) promote healthy, safe, efﬁcient and effective conduct of upstream petroleum Operations in an environmentaliy acceptable and sustainable manner; (a) ensure efﬁcient, safe, effective and sustainable infrastructural development of upstream petroleum operations ; 0") determine, administer and ensure the implementation and maintenance of technical standards, codes, practices and Speciﬁcations applicable to upstream petroleum operations pursuant to good international petroleum industry practices ; (g) implement government policies for upstream petroleum operations as directed by the Minister of Petroleum in accordance with the provisions of this Act ; (it) promote an enabling environment for investment in upstream petroleum operations ; (1') ensure strict implementation of environmental policies, laws and regulations for upstream petroieurn operations ; (1') ensure the implementation of national policies for upstream petroleum operations ; and (k) implement such other policies and objectives as are consistent with the provisions of this Act. 7. The technical regulatory functions of the Commission include to——— (a) enforce, administer and implement laws, regniations and policies relating to upstream petroleum operations; (5) ensure compliance with applicable national and international petroleum industry policies, standards and practices for upstream petroieum operations ; Technical regulation functions of the Commission. A 134 2021 No. 6 Petroleum Industry/let, 202i (c) establish, monitor, regulate a n d enforce heaith, safety a n d environmental measures and standards relating to upstream petroleum operations including“ (r‘) management of petroleum reserves and installations, and (ii) exploration, development and production activities within the onshore, ﬁ'ontier, shallow water and deep offshore acreages of Nigeria ; (d) administer, monitor and enforce compliance with the terms and conditions of leases and licences granted and permits and authorisations issued to a company in respect ot‘upstream petroleum operations ; ((2) set, deﬁne and enforce approved standards and regulations for design, construction, fabrication, Operation and maintenance of plants, installations and faciiities used orto be used in upstream petroleum operations including—— (i) crude oil and natural gas Evaluation and management, (it) upstream natural gas gathering, (iii) natural gas treatment, and (iv) the elimination of natural gas ﬂaring and venting ; (1") keep public registers of— (i) licences and leases granted by the Minister and permits and other authorisations issued by the Commission, (if) beneﬁcial ownership, and (iii) award, renewal, assignment, amendment, stISpension and revocation; (g) carry out enquiries, tests, audits or investigations and take other steps to moaitor the activities of licensees, lessees or permit holders ; U?) establish and enforce standards relating to upstream petroleum operations ; (i) undertake evaluation of national reserves and develop policies for prudent reservoir management practices ; (1') maintain a Nigerian petroleum industry data bank comprising of materials, information and data acquired by, or submitted to, the Commission in the exercise of its statutory and regulatory functioas ; (k) require lessees, licensees and permit holders to furnish and publish speciﬁed in formation relating to upstream petroleum operations in this Act and the National Data Repository Regulation, 2020 ; (I) supervise and ensure accurate calibration and certiﬁcation of equipment used for metering upstream petroleum operations, pursuant to applicable laws, and issue certificates of quality and quantity for petroleum produced ; Petroleum ﬂrdusrryAcr, 202l 2021 No. 6 (m) publish reports and statistics on upstream petroleum operations to promote the growth of the petroleum industry ; (I?) advise the Minister on ﬁscal, operational, technical and other matters to enhance the upstream petroleum operations ; (0} issue permits and other authorisations as may be necessary under an upstream licence or lease, including—— (i) seismic operations, (it) drilling operations, and (iii) design, construction and operation of facilities for upstream petroleum operations ; (p) establish special laboratories to provide data storage and testing, quality assurance and certiﬁcation for upstream petroleum operations ; (q) perform technical evaluation and assessments regarding submissions made to the Commission by licensees, lessees or permit holders involved in upstream petroleum operations ; (r) keep records, data and reports obtained from upstream petroleum operations, as may be required under anyAct or regulation and give directive to any person, company or entity in that regard ; (s) manage and administer data regarding unallocated acreage ; (t) conduct bidding rounds forthe award ofpenoleum prospecting licences and petroleum mining leases pursuantto this act and applicable regulations ; (u) when requested, provide assistance to parties conducting upstream petroleum operation, where in the 'sole opinion of the Commission such assistance is merited ; (v) approve ﬁeld development plans for upstream petroleum operations as well as monitor its execution ; (w) compute, determine, assess and ensure payment of royalties, rents, fees, and other charges for upstream petroleum Operations as stipulated under this Act and any regulation ; (x) establish parameters and codes of conduct for licensees, lessees or permit holders in the upstream petroleum operations ; ()1) monitor the ﬁnancial viability of licensees, lessees or permit holders with respect to upstream petroleum Operations ; (z) deveIOp, maintain and publish a database of upstream petroleum operations; (an) subject to the conﬁdentiality provisions of section 83 (7) of this Act, share information and data on the upstream petroleum operations with other government entities which have functions with respect to the petroleum sector ; A 135 A 136 2021 No. 6 Petroleum Industry Act, 2021 (bb) perform such other ﬁmction as may be necessary to give effect to the provisions of this Act. (cc) ensure and monitor performance of industry players and quality of the provision of services of servicing companies in the upstream petroleum industry; (dd) conduct studies relating to the economy, efﬁciency and effectiveness of the upstream petroleum industry ; and (ac) issue certiﬁcates of quality and quantity to exporters of crude oil, natural gas and petroleum products from integrated operations and crudeoil export terminals established prior to the effective date and the Commission shall have the power to monitor and regulate the operations of crude oil export terminals and the responsibility of weights and measures at the crude oil export terminals shall cease to exist from the effective date. Commercial regulatory functions of the Commission. Functions o f the Commission for frontier basins. 8. The commercial regulatory functions of the Commission shall be to-—- (a) review and approve the commercial aspects of field development plans in the upstream petroleum operations ; (1:) develop cost studies and benchmarks for the evaluation of upstream petroleum operations taking into account petroleum industry speciﬁc issues, including ﬁeld size, reservoir depth, location of operations, technology applied, production methods and petroleum quality ; (c) allocate petroleum production quotas for the purpose of curtailing export of petroleum in conjunction with NNPC Limited pursuant to regulations; and (d) where in situ facilities or ﬁxed or ﬂoating platforms or vessels provide for fully integrated upstream and m idstream petroleum opera tions, the Commission shall consider and the Commission shall be in charge of such integrated operations and petroleum operations may be considered integrated where there is ajoint use of utilities used exclusively for the upstream and midstream operations. 9.——( l ) The functions of the Commission with respect to frontier basins shall be to— (or) promote the exploration of the frontier basins of Nigeria ; (b) develop exploration strategies and portfolio management for the exploration of unassigned frontier acreagcs in Nigeria ; (6) identify opportunities and increase information about the petroleum resources base within frontier basins in Nigeria ; and (d) undertake studies, analyse and evaluate unassigned frontier basins in Nigeria. .: Petroleum industry Act, 202] 2021 No. 6 A 137 (2) Where data acquired and interpreted under a petroleum exploration licence, in the judgment of the Commission, require testing and drilling of identiﬁable prospects and leads, and no commercial entity has publicly expressed an intention of testing or drilling such prospects, the Commission shall, in line with section 64 (k) of this Act, request the services ofNNPC Limited to drill or test such prospect and leads on a service fee basis to be charged to the Frontier Exploration Fund under this Act. (3) Where commercial discovery is made under subsection (2), NNPC limited shall have the first right of refusal in the award of the acreage for subsequent development and other petroleum Operations in such frontier acreages under this Act. (4) There shall be maintained, for the purpose of this section, a Frontier Exploration Fund which shall be 30% ofNNPC Limited’s proﬁt oil and proﬁt gas as in the production sharing, proﬁt sharing and risk service contracts. (5) NNPC Limited shall transfer the 30% of proﬁt oil and profit gas under subsection (4) to the Frontier Exploration Fund escrow account dedicated for the development of frontier acreages and utilise the funds to carry our exploration and development activities in the frontier acreages subject to appropriation by the National Assembly. 113. The Commission shall have power to——— (o) enforce the provisions of any— Poners of the Commission. (i) regulation made with respect to upstream petroleum operations, (ii) regulations, policies or guidelines formerly administered by the Department of Petroleum Resources or the Petroleum Inspectorate, with respect to upstream petroleum operations, and (iii) enactments with respect to the upstream petroleum industry made prior to the coming into force of this Act and any regulations made pursuant to powers given under them : (1:) seal up any premises, under section 217 of this Act, including any facility or plant engaged in upstream petroleum operations, where there has been a contravention of this Act or any regulations made under this Act ; (c) ensure compliance with the Nuclear Safety and Radiation Protection Act and such other legislative provisions as may be applicable in upstream petroleum operations ; (d) set standards to promote the adeption of new technologies for upstream petroleum operations ; (9) require lessees, licensees and permit holders to publish speciﬁed and non-proprietary information relating to upstream petroleum operations ; Cap Nl42. LFN. 200-1. A 138 2021 No. 6 Petroleum ﬁrdusrryAcr, 202] (f) issue guidelines in accordance with the provisions of th is Act or any regulation in respect of upstream petroleum operations; g) recommend to the Minister the revocation or suspension of licences or leases in accordance with this Act and approve renewal of lenses ; (it) within thejurisdiction of the Commission, have access to— (1') areas or rights of way regarding licences, leases or any related ofﬁces or buildings where information or data are available for inspection under this Act ; and (ii) all installations to which this Act applies, includingplants and stations of every description, for the purpose of inspecting the operations cOndncted therein and enforcing the provisions of this Act and any regulations made under i t ; (i) impose on a petroleum prospecting licence, petroleum exploratiou licence or any petroleum mining lease to which this Act applies, Special terms and conditions consistent with this Act at the grant or renewal of the licence or lease ; (i) renew licenses and leases subject to the provisions of this Act ; and (it) do such other things as are necessary and expedient for the effective and discharge of any of its functions under this Act. Governing 11.—-—( l ) There is established a Gtwerning Board (in this Act referred to 30ml 9‘"t as “the Board of the Commission”) which shall be responsible for the policy C"'""“5"'°“' and general administration of the Commission. (2) The Board of the Commission shall consist of—— (or) one non-executive chairman ; ((7) two non~executive commissioners : (c) the chief executive of the Commission (in this Act referred to as “the Commission Chief Executive") ; ((1) two other executive commissioners who are responsible for finance and accounts and exploration and acreage management ; (a) one representative of the Authority not below the rank of Director ; ( f ) one representative of the Ministry not below the rank o f Director ; and (g) one representative of the Ministry of Finance not below the rank of Director. (3) Appointments to the Board of the Commission under subsection {2) shall be made by the President subject to conﬁrmation by the Senate, except for the appointments of ex—officio members under subsection (3) (e), (f) and (s). Petroleum Indnsn'ydcl, 202] 2021 No. 6 A 139 (4) A person appointed under subsection (2) (a) and (b) shall have at ieast 15 years post-qualiﬁcation cognate experience in petroleum or other relevant sector of the economy and shail hoid ofﬁce for a period of ﬁve years and may be reappointed for a further term of five years, on such terms and canditions as may be speciﬁed in the letter of appointment. (5) Subject to subsection (4) o f this section and section 18 (7) of this Act, a commissioner shall hoid office for five years and may be re-appointed for a further term ofﬁve years. (6) A non-executive commissioner shail hold ofﬁce on part-time basis. (7) The Board of the Commission may authorise in writing any commissioner, committee of the Board of the Commission, the Commission Chief Executive or any other ofﬁcer or empioyee‘of the Commission, to exercise any power or carry cut any duty or function of the Commission under this Act or regulation made under this Act. (8) The proceedings of the Board of the Commission and other ancillary matters shall be as prescribed by regulation made under this Act. 12. The Board of the Commission shail— (a) be responsible for the formulation of policy, supervision and giving strategic direction to the Commission ; (1)) provide generai guidance for the carrying out of the funclions of the Commission ; (0) review and approve the business, strategic and operating plans of the Commission; (0’) consider and approve the annual budget of the Commission before submission to the National Assembiy for appropriation ; (e) approve the management accounts and audited accounts of the Commission and consider the management letter from the external auditors ; (f) determine the terms and conditions of service of employees of the Commission ; (g) reconunend remuneration, allowances, beneﬁts and pensions o f employees of the Commission in consultation with the National Salaries, Incomes and Wages Commission, having regard to the—— (i) specialised nature of work to be performed by the Commission. (ii) need to ensure the financial self-5n fficiency o f the Commission, and (an remuneration and allowances paid in the private sector in upstream petroleum Operations to individuals with equivalent responsibilities, expertise and skills ; Functions of the Board o f the Commission. A 140 2021 No. 6 Petroleum Indusnjulcr, 202i (1:) structure the Commission into such number of departments as it deems fit for the effective performance of the functions of the Commission ; and (i) perform such other functions as may be necessary for the efﬁcient and effective administration of the Commission under this Act. Remuneration and allowances o f the Board o f the Commission. Suspensidn or ramps 3! of members of the'Board of the Commission. 13.——-( 1) Commissioners shall be paid from the funds ofthe Commission such remuneration and allowances as applicable. ’ (2) The Commission shall comply with the policy and guidelines of the National Salaries, incomes and Wages. Commission regarding remunerations. 14. A member of the Board of the Commission may be suspended or removed from ofﬁce by the President, where the member—(a) is found to be—* (i) unqualiﬁed for appointment under section 1 I ofthis Act, (if) unquaiiﬁed subsequent to his appointment, or Act No 3. 2020. (iii) in breach of conﬂict of interest provisions in the Companies and Allied MattersAct or any regulation regarding conflicts o f interest passed under this Act; (b) ceases to be an employee ofthe ministry or agency he represents on the Board of the Commission ; (c) has demonstrated an inability to effectively discharge the duties of his office ; (d) has been absent from the meeting of the Board of the Commissiou for three consecutive times witlwut the consent of the Chairman or in the case of the Chairman, without the consent of the President, except where good reason is shown for the absence ; (e) is found guilty of serious misconduct by a court or tribunal ofcornpetent jurisdiction ; or (f) has, under the law in force in any country— (i) been adjudged or declared bankrupt or insoivent and has not been discharged, (it) made an assignment to or arrangement or composition with his creditors which has not been rescinded or set aside, or (iii) been declared to be of unsound mind. Resignation ot‘a nonexccuth e oomissioner. 15. A nan-executive commissioner may resign his appointment by giving two—month’s written notice to the President. Petroleum ﬁrdusny Act, 2021 2021 No. 6 A 141 16. A vacancy on the Board of the Commission shall occur, where a commissioner— Vacancy on the Board ol‘ the Commission. (a) dies ; (b) is removed from office in accordance with section 14 of this A c t ; (c) resigns from office ; (d) completes his tenure of office ; or (e) is incapacitated. 17. A vacancy on the Board of the Commission shall be ﬁlled by the appointment of another person in accordance with section 1 l of this Act. iii—(1) The Commission Chief Executive is the accounting ofﬁcer and shall be responsible for the administration ofthe C ommissir‘m. (2) There shall be six executive commissioners for the Commission with each responsibie for one of the fol lowing—— (:1) Exploration and Acreage Management; (17) Development and Production ; (c) Health, Safety, Environment and Community ;_ ((1') Economic Regulation and Strategic Planning; (e) Corporate Services and Administration ;and 0") Finance and Accounts. (3) A person to be appointed as Commission Chief Executive and as an executive commissioner of the Commission shall have extensive managerial, technical or professional knowledge of the upstream petroleum operations with a minimum of 15 years postaqualiﬁcation cognate experience. (4) The Commission Chief Executive shall be appointed on such terms and conditions as may be set out in the letter of appointment, except as otherwise provided for in this Act. (5) An Executive Commissioner shall be appointed on such terms and conditions as may be set out in the letter of appointment, except as otherwise provided for in this Act. (6) The Commission Chief Executive shall be appointed for an initial term of five years and may be rte-appointed for a Further term of ﬁve years, subject to conﬁrmation by the Senate. Filling of vacancy on the Board of the Commission. Commission Chief Executive and Executit e (Jamestown A 142 2021 N0. 6 Petra-team Iiicftrsnjt’Ac-t, 202i (7) The President may, not later than 90 days prior to the expiration of the tenure of the Commission Chief Executive or an executive commissioner, re—appoint the Commission Chiet' Executive or Executive Commissioner or appoint another qualiﬁed person. (3) A person shail not be appointed as a Commission Chief Executiveor an Executive Commissioner, where the person—- Act No 3_ 2020. (a) is likely to be in breach of conﬂict of interest provisions under the Companies and Allied Matters Act or regulation made under this Act ; (b) has a ﬁnancial interest in any business connected, directly or indirectly with the petroleum industry ; (c) is engaged in any activity for remuneration or otherwise connected with the petroleum industry ; (d) is a reiative of a person who has an interest or is engaged in any o f the activities under paragraphs (ﬂ)-(E‘). provided that- (i') such person may be appointed Commission Chiel‘Executive or an Executive Connnissioner it'he doc larcs his interest and makes appropriate arrangements to ensure the avoidance ot‘a conflict o f interest, (ii) the President is satisﬁed that the interest or activity shalt not interfere with the person’s impartial discharge of his duties as the ComtniSsion Chief Executive or an executive commissioner, or (iii) the financial interest is terminated prior to the appointment taking effect ; or (9) has, under the laws in force in any country—- (i) been adjudged ordeclared bankrupt or insolvent and has not been discharged, (if) made an assignment tor or arrangement or composition with his creditors, which has not been rescinded or set aside, (iii) been declared to be of unsound mind. (iv) been convicted ofany criminal offence by a court ol‘competent jurisdiction except for traﬁic oti'ences. or (v) been disqualified or suspended Ii'om practising his profession by the order of a competent authority. Employees 0m“: _ _ Commissaon. 19. The Board of the Commission shall determine the number ofpersons that shall be employees of the Commission. 2021 No. 6 A 1-43 20.——{1) The empioyees of the Commission shall be subject to terms and conditions of service set out by the Board of the Commission. 'l'crms and conditions ol‘ sort ice in the Commissiun. Petroleum IndustryAct, 202] (2) The terms and conditions of service referred to in subsection ( l ) may provide for—— (a) the appointment, promotion, dismissal and discipline ol'employees ; (b) appeals by employees against dismissal or other disciplinary measures ; and (c) the grant of pensions, gratuities and other retirement beneﬁts to employees(3) In this section, “appoinmrenf' includes secondment, transfer and contract appointments. (4) Employees of the Commission shall be “public officers” as deﬁned in the Constitution of the Federai Republic ofNigeria. [5) Empioyment by the Commission shall be subject to the provisions of the Pension Reform Act and officers and employees ol'the Commission shall Cap. C23. LPN. 2004. Act No 4. JUN. be entitled to pension and other retirement benefits as prescribed under the Pensions Reform Act. (6) Nothing in subsection (5) shall prevent the Commission from appointing a person to an office on terms that preclude the grant of pension or other retirement beneﬁts in respect of that ofﬁce. 21. The Board of the Commission, in consultation with the National Salaries, incomes and wages Commission, shall determine and periodicaily review the remuneration and allowances payable to the employees of the Commission, having regard to the— (a) Specialised nature of work to be performed by the employees of the Commission ; Rcmuncmtiun and alien anccs ul' emplo} cos nl‘ the Cornrnission. (1;) need to ensure the financial self-sufficiency of the Commission ; and (c) remuneration and allowances paid within the petroleum industry to individuais with equivalent responsibilities, expertise and skills22.—{i) The Commission shall, not later than 30th of September of each year or such other date that the Minister responsible for Budget and Natioaal Planning may determine, prepare and present to the National Assembly, a statement ot‘estimated income and expenditure of the Commission for the next financial year. {2) Notwiti‘tstanciingF the provisions of this section. the Commission may. in 2:211 financial year. submit to the National Assembly, Supplementary or t- . ztcd statements ofestimated income and expenditure of the Commission Statement ul‘ estimnled income and expenditure or the Cr-nunission. A 144 2021 No. 6 Petroleum Industry Act, 2021 (3) The financial year of the Commission shall be a period of 12 eaiendar months commencing on the [st of January in each year or such other date as the Minister of Finance may determine. acacia“? t0 1e Commission. 23.——(i) The Board of the Commission shall appoint a Secretary, vho shall 5-— (a) be the Legal Adviser to the Commission ; (b) attend meetings of the Board of the Commission and keep minutes. corporate records and the common seal ofthe Commission ; and (c) carry out such administrative'and other secretarial duties as the Commission Chief Executive and the Board ot'the Commission may direct. (2) The Secretary shall be a legal practitioner with a minimum of It) years post—qualiﬁeatioa experience. Fund o f the Commission. 24.—( l ) The Commission shall maintain a Fund (in this Act referred to as "the Commission Fund") into which money accruing to the Commission shall be paid and all expenditures of the commission shall be subject to approPriation by the National Assembly. (2) The source of the Commission Fund shall be as follows-— (a) money appropriated by the National Assembly for the Commission ; (b) fees charged by the Commission for services rendered to licensees, iessees, permit holders and other authorisations issued by the Commission ; (0) cost of collection by the Commission ; ((1) income derived from publications made by the Commission and other related activities, including data sales ; (e) fees paid to the Commission for using facilities owned or managed by the Commission ; and (1") money accruing to the Commission by way of grants, aids, gifts. testamentary diSposit ions, endowments and contributions. (3) The Commission Fund shall be applied— (a) to meet approved budgetary obligations of the Commission ; (b) to meet administrative and operating cost of the Commission ; (c) to pay saiaries, wages, fees or other remuneration or allowances, pensions and other retirement beneﬁts payable to employees ol’ the Commission ; (d) to acquire and maintain any property acquired by or vested in the Commission; Petroleum Industry Act, 2021 2021 No. 6 (e) for investments, as provided under the Trustee investments Act or any other applicable legislation, subject to the approval of Minister responsible for Finance ; and (f) in connection with any of the functions ofthe Commission under this Act. (4) The Commission shall ensure that money accruing from royalties and rents charged under this Act or any subsidiary legislation made under this Act on royalties and rents are paid into the Federation Account. (5) At the end of each ﬁnancial year, any money that accrued to the Commission Fund under subsection (2), which have not been utilised for the purposes provided under subsection (3), shall be paid into the Consolidated Revenue Fund. (6) The Commission may accept grants of money or property on such terms and conditions as may be specified by the person or organisation making the grant, provided that— (a) the terms and conditions ofthe grant are consistent with the objectives and functions of the Commission ; or (b) no such grant is accepted from any person or organisation regulated by the Commission. (7) Nothing in subsection (6) or under this Act shalt be construed as authorising the Commission Chief Executive, commissioners, ofﬁcer or employee of the Commission to accept any grant for their personal use. (8) The Commission shall keep proper accounts of its income and expenditure for each ﬁnancial year and cause it to be audited within six months after the end of each ﬁnanciai year by auditors appointed by the Commission from a list of auditors approved in accordance with guidelines, supplied by the Auditor-General for the Federation. (9) The Commission shall submit to the Minister—m (a) a mid-year report of its operations and ﬁnances not later than the Slst of August of each year ; (b) an annual report of its operations and perfonnance ; and (c) an audited financial account for the year. not iater than 3 l st of March of the following year. ( I D ) The Commissioa shali, not later than the S l s t o f March o f each year—— (a) submit to the Minister a summary of its annuai report and audited ﬁnancial accounts; and A145 Cap. T22 Li’N. Eilli-l . A 146 2021 No. 6 Petroleum htdtrsnjv Act, 202i (b) publish the annual report and audited ﬁnancial accounts on its website. ( l l ) The provisions of any enactment relating to the taxation of com panicsor trust funds shall not apply to the Commission. Notice t o t h e Commission. 25:41) Any Government ministry. department or agency exercising any power or function or taking any action, which may have direct impact on upstream petroleum operations shall consmt with the Commission prior to— (a) issuing any regulation, guideline, enforcement order or directive ; (b) exercising any such power or function ; or (c) taking any such action. (2) The Commission sit-all review t h e recommendations o f the GOVernment ministry, department or agency and communicate decision accordingly and such decision shall be complied with by the relevant Government ministry, department or agency. Special pon ers of the Commission. 26.-—(l) The Commission shall in performing its functions under this Act have special powers to— (a) inquire, inspect, examine or investigate any business or activity relating to upstream petroleum operations under this Act, where it believes that illegal upstream petroleum operations are going on; (b) conduct survei|lance on crude oil and natural gas installations, premises and vessels where it believes that illegal upstream petroleum operations are going on ; (c) enter any upstream wellsite, plant, facility or place—~ (i) at which crude oil or natural gas is produced, handled or treated, or (if) that is used in connection with any upstream wellsite. plant. facility or place where crude oil or natural gas is produced, handled or treated : (:1) enter at any reasonable time premises containing any records or property required to be maintained under this Act or related to the l'.) administration of upstream petroleum operations under this Act for the purpose of inspecting those records or that property ; (2) require any person or his agent, representative, partner, director, ofﬁcer or employee engaged in upstream petroleum operations to— (t') answer any question that may be relevant to the inquiry, inspection, examination or investigation, and (if) provide any required information contained in a Computer hardware or software or any other data storage, processing or retrieval device or system used in connection with the business or activities relating to upstream petroleum operations under this Act ; Perrofeum Industry Act, 202] 2021 No. 6 (f) take any sample or carry out any test or examination as it may consider necessary in the performance o f its functions : (g) use any machinery, equipment, appiiance orthing as it may consider necessary in the performance of its functions ; (fr) remove for examination and copy anything that may be relevant to the inquiry, inspection, examination or investigation. including remOVing any computer hardware or software or any other data storage. processing or retrieval device or system, during which copyright and trade secrets shail be properly protected ; (i) in conjunction with the Nigeria Police or other law enforcement agencies, arrest with a warrant, any person reasonably believed to have committed an offence under this Act ; and (i) exercisa .any other power that may be conferred on it under any tan or regulation. (2) An entity. person or agent, representative, partner, director, officer or empioyee of that entity or person under investigation by the Commission shall—— (a) grant access to ofﬁcers oi‘the Commission with regard to any place, weilsite, plant, facility, upstream machinery, equipment, appliances or things that may be relevant to the investigation :and (it) provide on request, any book, account, record, document. voucher. infonnation and explanation relating to upstream petroleum operations as the ofﬁcers of the Commission may require. (3) An entity, person or agent, representative. partner, director, ofﬁcer or employee of that entity or person who fails to comply with subsection (2) commits an offence and is liable on conviction to— (a) a minimum ﬁne of ltd-5,000,000 or a term o f ﬁve years imprisonment; and (b) in the case of a continuous offence, to an additional minimum ﬁne of Ni 00,000 for each day during which the offence continues. (4) The Commission shall in the exercise of its powers under this section avoid undue hindrance of entities and persons engaged in lawful upstream petroleum operations. (5) The Commission can seat or close any premises or facility utilised for purpose of upstream petroieum operations if the licensee, lessee or permit holder is found to be in breach of the reievant provisions of this Act. A 147 A 148 Special Immigration Unit. indemnity of oﬂicers of the Commission. 2021 No. 6 Petroleum industry-Act, 202} 27. The special powers ofthe Commission under section 26 ol'this Act shall he perfumed by the Special investigation Unit of the Commission or any person authorised by the Commission. 28.—( l ) The Commission Chief Executive, a commissioner or any ofﬁcer of the Commission shall each be indemnilied out of the Commission Fund against any liability incurred in defending any preemding against the Commission or brought against him in his ofﬁcial capacity. (2) Notwithstanding the provisions ofsuhscction ( l ), the Commission shall not indemnify the Commission Chiel‘Executive, a commissioner or any officer of the Commission for any liability incurred as a result of wil I'ul misconduct or gross negligence. Paar tV—Tm: Amnomrv ministration of the Midstream and Downstream Petroleum Regulatory Authority. 29.——(l) There is established the Nigerian Midstream and Downstream Petroleum Regulatoq' Authority (in this Act referred to as ;;the Authority”). which shall be a body corporate with perpetual succession and a common seal. (2) The Authority shall have the power to acquire, hold and dispose of property, sue and be sued in its own name. (3) iheAuthority shall be responsible for the technical and commercial regulation of midstteam and downstream petroleum operations in the petroleum industry. Application ofthis Pm. Ohiectitcs ofthe Authority. 30. The objects and functions ol'the Authority in this Part are limited to midsueam and downstream petroleum operations in the petroleum industry. 31. The objectives of the Authority shall be to— (a) regulate midstream and dormstrcam petroleum operations, including technical, Operational, and commercial activities ; (5) ensure efﬁcient, safe, effective and sustainable infrastructuml development of midstream and downstream petroleum operations ; (6) promote healthy. safe, eﬁrcicnt and cite-olive conduct ol‘midstneam and donmtream petroleum operations in an environmentally acceptable and sustainable manner: (d) promote a competitive market for midstrcam and downstream petroleum operations ; (e) pmmote the supplyr and distribution of natural gas and petroleum products in midstream and doxvmtrcam petroleum operations and the security of natural gas supply for the domestic gas market : Pen-oleﬁn: Indusn’yAcl, 202! 2021 No. 6 A 1-19 (1") ensure compliance with applicable laws and regulations goveming midstreant and downstream petroleum operations ; (g) ensure crude oil supply for domestic reﬁneries ; (a) determine, administer and cnsurethe implementation and maintenance of technical standards, codes, practices and speciﬁcations applicable to midstream and downstream petroleum operations pursuant to good international petroleum industzy practices; (1') implement Government policies for midstrearn and downstream petroleum operations as directed by the Minister and in accordance with this Act ; (i) promote, establish and develop a positive environment for international and domestic investment in midstream and downstream petroleum operations; (it) ensure strict implementation ofcnvironmcntal policies, laws and regulations for midstream and downstream petroleum operations; (I) develop and enforce a framework on tariff and pricing for natural gas and petroleum products ; and (m) implement such other policies and objectives as are consistent with the provisions of this Act. 32. The functions ofthe Authority shall be 10—— (a) regulate and monit

Federal Republic of Nigeria Official Gazette PDF

Document Details

Tags

Related

Summary

Full Transcript

Upgrade to continue