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LEADERSHIP Newspapers·3 min read·medium

‘Drill Or Drop’: NUPRC Warns Licencees To Develop Assets Or Risk Forfeiture

N
Nse Anthony-Uko
‘Drill Or Drop’: NUPRC Warns Licencees To Develop Assets Or Risk Forfeiture
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned new license holders to actively develop their petroleum assets or face forfeiture. This policy aligns with the government's goal to significantly increase national crude oil production by 2030.

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned newly awarded Petroleum Prospecting Licence (PPL) holders to develop their assets or face forfeiture under the Petroleum Industry Act’s “drill or drop” provision.

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